Flexible workspace provider WeWork commenced a comprehensive reorganization to strengthen its capital structure and financial performance. As part of the reorganization plan, WeWork and certain of its entities filed for protection under Chapter 11 of the U.S. Bankruptcy Code.
Yellow Corporation and certain of its direct and indirect subsidiaries filed voluntary petitions for relief under Chapter 11 of the U.S. Bankruptcy Code in the U.S. Bankruptcy Court for the District of Delaware for the company’s planned operational wind-down.
Algoma Steel, a producer of steel sheet and plate products, upsized its senior secured asset-based revolving credit facility from $250 million to $300 million and extended the term of the facility to May 2028. Wells Fargo Capital Finance Canada is acting as the administrative agent for the facility.
B. Riley Financial, a diversified financial services platform, acquired the corporate division of Farber Group, a Toronto-based restructuring and business advisory firm. In connection with the acquisition, Farber’s corporate division will become part of B. Riley Advisory Services.