Claire’s Files Chapter 11, Citigroup to Provide DIP Financing

According to Reuters, retail chain Claire’s Stores has filed for Chapter 11 in U.S. bankruptcy court in Delaware. Citigroup will provide DIP financing for the company as it goes through restructuring.

Constellation Files Chapter 11, BofA to Provide DIP Financing

Healthcare services organization Constellation Healthcare Technologies, along with certain of its subsidiaries, filed for Chapter 11. Bank of America committed $7.5 million in DIP financing to the company.

SSG Advises NEOPS on Sale of Debt, Reorganization

SSG Capital Advisors acted as the investment banker to New England Orthotic & Prosthetic Systems in the sale of all of its outstanding senior debt and advised the company on its Chapter 11 plan of reorganization.

Toys ‘R’ Us Winds Down U.S. Business, Will Liquidate 735 Stores

Toys “R” Us filed a motion seeking bankruptcy court approval to begin the process of conducting an orderly wind-down of its U.S. business and liquidation of inventory in all 735 of the company’s U.S. stores.

Remington Delays Bankruptcy, Ankura Trust Becomes Agent for Lenders

Bloomberg reported that Remington plans to postpone its bankruptcy filing by a week to March 14, as Bank of America terminated its role as administrative agent for the company’s term loan lenders.

February Chapter 11 Filings Increase 4% Year/Year

The American Bankruptcy Institute reported that there were 425 total commercial Chapter 11 filings in February 2018, representing an increase of 4% from February 2017’s total of 407.

Remington Creditors Looking to Sell After Bankruptcy

Bloomberg reported that the Remington’s creditors are looking for a quick sale after the beleaguered gun company emerges from Chapter 11.

BofA Provides $140MM DIP Revolver to Tops Markets

Regional supermarket Tops Markets filed for reorganization under Chapter 11. It received a commitment for $140 million in DIP financing from Bank of America to support the restructuring process.

ABI Releases Podcast on Potential Bitcoin Fraud in Bankruptcy

Alan Rosenberg of Markowitz, Ringel, Trusty + Hartog, PA (Miami) has produced a podcast available on the American Bankruptcy Institute website addressing the potential for fraud in bitcoin-related bankruptcies.

BofA Supports Remington Restructuring

Remington Outdoor reached a restructuring support agreement with creditors holding a majority of the FGI Operating Company term loans due in 2019. Bank of America, as administrative agent, reached a forbearance agreement with the company for the term B loans.