News

Small and medium-sized business (SMB) lending fraud has increased by a double-digit percentage year over year, with most lenders expecting fraud levels to continue to increase in the coming months, according to LexisNexis Risk Solutions.

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.

PNC Bank’s latest semi-annual survey of small and mid-sized businesses, which concluded Aug. 6, 2024, indicates that business owner optimism remains high, lending support to PNC’s forecast of a soft landing for the U.S. economy.

Matrix Capital Markets Group, an independent investment bank, advised Singer Energy Group and its affiliates, d/b/a Robison, on the sale of its integrated heating oil distribution and HVAC services business to an affiliate of Star Group.

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.

Thornburg Investment Management, a global investment firm, and Bow River Capital, an alternative asset manager, formed a joint venture to provide private credit solutions that support the needs of lower- and middle-market businesses.

Bregal Sagemount, a growth-focused private capital firm, held the final close for Bregal Sagemount Credit Solutions and Bregal Sagemount Credit Solutions-0. The fund closed on nearly $800 million of equity capital commitments.

Bain Capital Credit, a global credit specialist, invested $1.8 billion through its private credit group to support the growth of middle market and private equity-backed companies during H1/24.

nFusion Capital assisted two apparel companies with factoring facilities designed to support growth trajectories.

A series of online only auctions on September 10 and 24 features the Holland, MI plant of manufacturer Trendway. HyperAMS and Liquid Asset Partners are hosting the sales.