BRF Finance, an affiliate of B. Riley Financial, committed to provide Tuesday Morning with $25 million of debtor-in-possession financing as required by the company’s current $100 million DIP agreement with its existing lender group.
AlixPartners is serving as restructuring advisor and Miller Buckfire is serving as financial advisor to Tuesday Morning, which filed voluntary petitions for protection under Chapter 11 of the Bankruptcy Code.
Stifel Financial hired two managing directors in its investment banking division. Alex Rohan joined Miller Buckfire, Stifel’s restructuring unit, and Greg Urban joined the Stifel Diversified Industrials Group, with a specific focus on the automotive sector.
Bank of America will provide debtor-in-possession financing to fund the restructuring process of Techniplas, which filed for voluntary Chapter 11 protection in the U.S. Bankruptcy Court for the District of Delaware.
The New York Times reported that the tribe that owns the Foxwoods Resort Casino said it was seeking to restructure its debt due to slumping revenue, although legal hurdles may complicate reorganization.