Big Lots received interim court approval for certain “first day’ motions related to the company’s voluntary chapter 11 proceedings. Among other relief, the court granted interim approval for the company to immediately access a portion of its $707.5 million post-petition financing facilities.
Edgio and certain of its affiliates has voluntarily filed for chapter 11 relief in the United States Bankruptcy Court for the District of Delaware to effectuate one or more sale transactions. To anchor the sale process, Edgio has entered into a stalking horse asset purchase agreement with Lynrock.
Big Lots entered into an agreement with an affiliate of Nexus Capital. To facilitate the transaction, the company, together with each of its subsidiaries, initiated voluntary Chapter 11 proceedings in the U.S. Bankruptcy Court for the District of Delaware.
Wheel Pros (d/b/a Hoonigan) and certain of its North American-based affiliates, a provider of aftermarket vehicle enhancements, commenced an in-court financial restructuring process to position it to drive long-term growth.
Red Lobster Management, along with its direct and indirect operating subsidiaries, owner and operator of the Red Lobster restaurant chain, has received court approval of its chapter 11 plan.
Overall commercial bankruptcy filings increased 8% in August 2024 to 2,562 from 2,358 in August 2023, according to data provided by Epiq AACER, a provider of U.S. bankruptcy filing data.
Rite Aid successfully completed its financial restructuring and emerged from Chapter 11. Through this process, Rite Aid has eliminated approximately $2 billion of total debt.
Lumio, a company in personalized renewable energy, filed voluntary petitions for relief under Chapter 11 in the United States Bankruptcy Court for the District of Delaware to complete a value-maximizing sale process and strengthen its financial position.
Avon Products has initiated voluntary Chapter 11 proceedings in the U.S. Bankruptcy Court for the District of Delaware to address its debt and legacy talc liabilities. Brazil-based Natura has committed up to $43 million in debtor-in-possession (DIP) financing.
Blink Fitness has voluntarily filed for protection under Chapter 11 of the U.S. Bankruptcy Code in the District of Delaware. In connection with the court-supervised process, Blink has received a commitment of $21 million in new debtor-in-possession financing from its existing lenders.