In Last Minute Shake-Up, Cyrus Becomes DIP Lender for Sears

According to Bloomberg, in a dramatic last minute deal, Cyprus Capital Partners agreed to provide Sears Holding junior DIP financing, scuttling the company’s prior agreement with Great American Capital Partners.

LBI Media Declares Bankruptcy, A&M Advises on Restructuring

LBI Media filed voluntary petitions for relief under Chapter 11 of the United States Bankruptcy Code in the United States Bankruptcy Court for the District of Delaware. Alvarez & Marsal is serving as financial advisor to the company through the restructuring process.

Houlihan Lackey Advises Waypoint Leasing on Chapter 11 Process

Waypoint Leasing Holdings and certain of its subsidiaries filed voluntary petitions for relief under Chapter 11. Houlihan Lackey is acting as investment banker for the company during the bankruptcy process.

David’s Bridal Declares Bankruptcy, Receives $60MM DIP Financing

David’s Bridal has implemented its previously announced restructuring support agreement by voluntarily filing for reorganization under Chapter 11 of the United States Bankruptcy Code in the District of Delaware.

Mattress Firm Plan of Reorganization Confirmed by Court

Mattress Firm’s plan of reorganization has been confirmed by the U.S. Bankruptcy Court in Delaware. Subsequently, Mattress Firm expects to complete its restructuring and emerge from Chapter 11 in the coming days.

Oaktree Capital to Provide DIP Financing to David’s Bridal

Reuters reported David’s Bridal is close finalizing a deal for a debtor-in-possession financing package with Oaktree Capital and other first-lien debt holders.

All It Wants for Christmas: Sears Seeking $350MM Loan from Great American

According to Reuters, Sears Holdings is in the final stages of negotiations with Great American Capital Partners and other lenders for $350 million in bankruptcy financing. The funds would be used to keep retail locations open through the upcoming holiday season.

James Candy Files Chapter 11; OceanFirst to Provide $5.257MM Cash Collateral

James Candy Company filed voluntary petition for relief under Chapter 11 of the Bankruptcy Code in the U.S. Bankruptcy Court for the District of New Jersey.

ABI: Exempting Veterans’ Benefits in Bankruptcy Will End Disparate Treatment of Financially Struggling Vets Under the Code

Disparate treatment of veterans’ benefits in bankruptcy presents significant hardship to some veterans, and corrections to the Bankruptcy Code should be made immediately, according to a November ABI Journal article.

Hospital Bankruptcy Filings Influence Health Care Industry Distress in Q3

The Polsinelli-TrBK Distress Indices also highlight declining distress in Real Estate Industry