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Sales Drop, Debt, Competition Led Container Store To Ch. 11
Stiffer competition and reduced customer spending on plastic bins, closet organizers and other items from The Container Store Group Inc. have driven a decline in revenue for the retailer, leading it to pursue bankruptcy after unsuccessful attempts to find a buyer for the business.
Meet The Attys Guiding Party City Back Through Ch. 11
A team of attorneys from Porter Hedges LLP and Paul Weiss Rifkind Wharton & Garrison LLP are representing retail chain Party City in its Chapter 11 case in the Southern District of Texas, as it plans to close its roughly 700 remaining stores and liquidate.
Bankruptcy News You May Have Missed Over The Holiday
The Fifth Circuit sided with a group of lenders left out of a so-called uptier refinancing deal with mattress seller Serta Simmons, reversing a bankruptcy court's ruling in a closely watched case on liability management transactions; Purdue Pharma secured a one-month extension as its creditors and members of the Sackler family try to reach a settlement in mediation; and retail chain Big Lots reached an eleventh-hour deal to sell some of its stores and thwart a total liquidation.
Sales Drop, Debt, Competition Led Container Store To Ch. 11
Stiffer competition and reduced customer spending on plastic bins, closet organizers and other items from The Container Store Group Inc. have driven a decline in revenue for the retailer, leading it to pursue bankruptcy after unsuccessful attempts to find a buyer for the business.
Meet The Attys Guiding Party City Back Through Ch. 11
A team of attorneys from Porter Hedges LLP and Paul Weiss Rifkind Wharton & Garrison LLP are representing retail chain Party City in its Chapter 11 case in the Southern District of Texas, as it plans to close its roughly 700 remaining stores and liquidate.
Bankruptcy News You May Have Missed Over The Holiday
The Fifth Circuit sided with a group of lenders left out of a so-called uptier refinancing deal with mattress seller Serta Simmons, reversing a bankruptcy court's ruling in a closely watched case on liability management transactions; Purdue Pharma secured a one-month extension as its creditors and members of the Sackler family try to reach a settlement in mediation; and retail chain Big Lots reached an eleventh-hour deal to sell some of its stores and thwart a total liquidation.
Expert Analysis
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Large Cap More
The new owners of reorganized Greek shipping group Eletson Holdings Monday brought a reworked request that a New York bankruptcy judge threaten its former owners and their counsel at Reed Smith with sanctions ... (more story)
The U.S. Department of Justice on Monday asked a Manhattan federal judge for permission to issue a public notice to notify potential victims of defunct cryptocurrency firm Terraform Labs' creator Do Kwon's all... (more story)
A Manhattan federal judge mulled a bid to hold Rudy Giuliani in contempt over a $148 million defamation judgment, as the former mayor cited memory lapses during questioning about the case. Terraform Labs found... (more story)
San Francisco-based Girard Sharp has kicked off the new year with a major leadership change, announcing Monday that Daniel C. Girard had stepped down as managing partner of the prominent plaintiffs complex lit... (more story)
A Manhattan federal judge sentenced a Chinese business manager to 10 years in prison Monday for her role assisting convicted billionaire Miles Guo's $1.4 billion fraud, saying the lawbreaking was egregious bec... (more story)
Satellite business Ligado Networks filed for Chapter 11 protection in Delaware bankruptcy court with about $8.6 billion of debt and a plan to hand control of the company to creditors after suffering what its c... (more story)
A Delaware bankruptcy judge Friday rejected the opt-out mechanism for obtaining releases for third parties in Solar panel provider Lumio Holdings LLC's Chapter 11 plan, but said she would allow it to solicit v... (more story)
A Delaware bankruptcy judge said Hertz Corp. doesn't need to post a $337.4 million bond while she uses an appeals court decision on underpaid interest to recalculate a group of unsecured noteholders' claims, w... (more story)
A New Jersey federal judge upheld a $1.75 million discretionary fee payable to investment banking firm Houlihan Lokey Capital for its work on behalf of talc claimants in the second Chapter 11 case of Johnson &... (more story)
Diamond Sports Group has emerged from Chapter 11 with a balance sheet that is nearly $9 billion lighter in debt and with a new name, the sports broadcasting company has announced.
Mid Cap More
Michigan residents who allege Florida investment firms funded a company that duped them into buying defective solar panels have urged a federal judge to deny the firms' bid to arbitrate or dismiss the claims, ... (more story)
Pride Group Holdings Inc. told a Delaware bankruptcy judge Monday that the Canadian trucking company will no longer pursue a sale of shares in an affiliated entity that owns a Florida property, after a financi... (more story)
A New York federal judge on Monday found Rudy Giuliani in contempt of court for failing to turn over evidence to two former Georgia election workers seeking to collect on a $148 million defamation judgment the... (more story)
Radio frequency filter venture Akoustis Technologies Inc. has accused judgment creditor Qorvo Inc. of seeking to scuttle Akoustis' Chapter 11 stalking-horse sale in Delaware for competitive reasons beyond Qorv... (more story)
The Office of the U.S. Trustee has objected to the bidding procedures in the bankruptcy of Plastic Suppliers Inc., arguing that the breakup fee isn't justified in the $13 million stalking-horse bid from Aluf Plastics.
A corporate press release distributor filed for Chapter 11 bankruptcy protection in Connecticut with less than $50,000 in assets and over $5 million in liabilities.
Corsa Coal Corp., which operates coal mines in Pennsylvania and Maryland, filed for bankruptcy Monday saying it planned to sell itself in Chapter 11 after it wasn't able to secure a U.S. Department of Agricult... (more story)
A North Carolina pool parts supplier can't retry trademark infringement claims after securing a $16 million false advertising and unfair business practices judgment against a rival Chinese company accused of m... (more story)
The owner of a 588-bed nursing facility on Long Island has filed for Chapter 11 protection in a New York bankruptcy court with more than $58 million in debt, saying it was the victim of a "crusade" and "smear ... (more story)
A Manhattan federal judge mulled a bid to hold Rudy Giuliani in contempt of a $148 million defamation judgment Friday, during a day of sparring in which the former New York City mayor repeatedly told counsel f... (more story)