AGG’s Restructuring Roundup newsletter is a monthly update of legal issues and news affecting or related to commercial litigation and bankruptcy. The newsletter is a curation of published articles and news, and contains original content developed by AGG’s Bankruptcy, Creditors’ Rights, & Financial Restructuring attorneys.
Industry News
Another popular beverage brand files Chapter 11 bankruptcy
July 24, 2024 (MSN.com)
The media has dubbed it a "beerpocalypse," but it really goes beyond just beer. A number of well-known (and lesser-known) beverage brands, breweries, coffee companies, and cafes have filed for Chapter 11 bankruptcy.
New owner nears purchase of Red Lobster after chain announced bankruptcy and closures
July 24, 2024 (Yahoo! Finance)
Two months after filing for Chapter 11 bankruptcy, Red Lobster could soon be changing hands.
A 134-year-old home goods retailer filed for bankruptcy and is closing more than 70 stores
July 24, 2024 (AOL)
Conn’s HomePlus, a 134-year-old furniture and electronics retailer with locations primarily in the southern United States, has filed for bankruptcy and is closing nearly half of its 170 stores.
Popular restaurant chain faces big Chapter 11 bankruptcy problem
July 22, 2024 (MSN.com)
Managing a Chapter 11 bankruptcy requires that a lot of things go correctly if a company hopes to continue its operations. In most cases, a Chapter 11 filing gives a company time to negotiate with creditors and landlords in an attempt to reach terms that make sense for both parties.
FTX Bankruptcy Claims Bolster Gains for Hedge Fund Diameter
July 22, 2024 (Bloomberg)
A large bet and a quirk in the bankruptcy proceedings following the chaotic collapse of Sam Bankman-Fried’s FTX crypto exchange is resulting in bumper profits for hedge fund Diameter Capital Partners.
NASCAR Team Lays Off Most of Its Staff Amid Bankruptcy
July 18, 2024 (MSN.com)
A long-running NASCAR team has laid off most of its staff just 3 months after it filed for Chapter 11 bankruptcy.
Award-winning documentary movie on the Detroit bankruptcy has its streaming debut
July 18, 2024 (Yahoo! News)
The award-winning documentary “Gradually, Then Suddenly: The Bankruptcy of Detroit” is finally available for streaming.
Another iconic music brand files Chapter 11 bankruptcy, closes
July 17, 2024 (MSN.com)
Usually, a brand files bankruptcy after a prolonged public struggle. Fans of the company may notice that something has gone wrong as cuts are made in customer service or orders take much longer to fill.
Nationwide pizza chain on brink of bankruptcy has a new owner
July 16, 2024 (MSN.com)
A popular pizza chain on the cusp of bankruptcy has been saved - but it is not clear if any restaurants will be still be shut.
A Beloved Bakery Chain Is Making a Comeback From Bankruptcy
July 16, 2024 (AOL)
From Red Lobster to Rubio's Coastal Grill, a handful of iconic restaurant chains are facing bankruptcy in 2024 as they contend with declining sales, closures, rising costs, and other financial woes. On the flip side, a beloved bakery chain has been breaking out of bankruptcy and making a promising comeback.
