According to a survey from AlixPartners, in spite of currently available liquidity and low interest rates, 96% of restructuring experts believe the COVID-19 pandemic will cause their clients distress this year as enhanced access to liquidity from the past year dissipates.
B. Riley Advisory Services is serving as chief restructuring officer and financial advisor to Fresh Acquisitions, which filed for Chapter 11 bankruptcy protection. In addition, VitaNova Brands will extend a post-petition debtor in-possession loan to the company.
Ryan Luke rejoined Trimingham as managing director of the firm’s office in Portland, OR. Luke, who rejoined after 10 years away from the company, is responsible for Trimingham’s turnaround management practice in the Pacific Northwest.
CarbonLite Holdings retained Force 10 Partners to lead its restructuring effort following its voluntary bankruptcy filing on March 8. Force 10 co-founder Brian Weiss will serve as chief restructuring officer.
MobiTV voluntarily filed for relief under Chapter 11 of the U.S. Bankruptcy Code in the U.S. Bankruptcy Court for the District of Delaware. MobiTV intends to use these proceedings to implement a restructuring process. FTI Consulting is serving as the company’s financial advisor.