Reorg

Reorg Credit Intelligence - 7/26/2021

Hotel, Real Estate Filings Continue to Outpace Historical Averages; July’s Bankruptcies Heavily Concentrated in the $10M – $50M Liability Range Chapter 11s in the $10 million to $50 million range of liabilities, which made up 52% of cases in the first half of the year, account for almost 80%of July’s chapter 11s. This week included

Reorg Credit Intelligence - 7/19/2021

July Sees Uptick in Chapter 11s; Limetree Bay Leads Two Energy Filings This Week Eight chapter 11 cases filed between Monday and Thursday this week as July proves to be much more active than the previous month. The biggest case of the week was St. Croix-based oil refinery operator Limetree Bay Energy, whose capital structure

Reorg Credit Intelligence - 7/12/2021

U.S. Tobacco Cooperative Files Chapter 11 After Termination of Federal Tobacco Price Support Program Raleigh, N.C.-based U.S. Tobacco Cooperative, the “largest tobacco cooperative in the United States” and the “most vertically-integrated company in the industry, operating leaf receiving stations, green leaf threshing and redrying, primary blending, cigarette manufacturing, and wholesale distribution,” filed for chapter 11

Reorg Credit Intelligence - 7/5/2021

Fiesta Restaurant Group Agrees to Sell Taco Cabana Business to Yadav Enterprises Affiliate for $85M Fiesta Restaurant Group announced that it had agreed to sell all of the outstanding equity of Taco Cabana Inc. to an affiliate of Yadav Enterprises – a restaurant franchisee company that operates more than 300 locations throughout the United States

Reorg Credit Intelligence - 6/28/2021

CP Holdings Seeks to Run Sale Process With Stalking Horse/DIP Lender Tor Asia Credit Master Fund, Prepetition Lender Under Debtor-Guaranteed Loan Dallas-based CP Holdings LLC and Pacrim U.S. LLC, which wholly own 47 nondebtor subsidiaries that operate 10 rural assisted living and memory care facilities in Alabama and Texas, filed for chapter 11 protection on

Reorg Credit Intelligence - 6/21/2021

Catalina, Bi-Lo, Extraction Lead Gainers; Cenveo, Appvion, Garrett Motion Lead Decliners; Hertz Expects to Emerge by End of June The following chart reports the week’s top gainers and losers in percentage terms of average quotes, as reported by Solve Advisors. Recent news on certain of the gainers and decliners is shown in this chart as

Reorg Credit Intelligence - 6/14/2021

Cash Flow Model: Kloeckner Pentaplast’s High Leverage Under Base Case Mitigated by Sufficient Liquidity Under All Scenarios Kloeckner Pentaplast’s second-quarter results are expected to show significant improvements by management to pass through raw material costs during the German plastics packaging group’s previous two quarters.KP’s €300 million senior unsecured notes due 2026 have rallied on the

Reorg Credit Intelligence - 5/31/2021

Solutions 30 Seeks New Investor; Stocks Plunge as EY Refuses to Sign Off 2020 Accounts French-listed outsourcing company Solutions 30 is in talks with investment banks as it seeks a new investor. The company said it could be taken private following its recent accounting issue with its auditor EY. The company published its unaudited 2020

Reorg Credit Intelligence - 5/24/2021

Shoe Zone Remains in Rental Term Talks With Landlords After Missed Payments, in Discussion With Suppliers on Delivery Disruption Amid Falling Revenue U.K. retailer Shoe Zone is in negotiations with its landlords to secure better terms after it failed to meet its rental payments. The company is also in talks with its suppliers after experiencing

Reorg Credit Intelligence - 5/17/2021

N. G. Purvis Farms Seeks to Transition Pork Production to Farrow-to-Wean Model Amid ‘Unsustainable’ Feed Cost Increases N. G. Purvis Farms, Inc., a Robbins, N.C.-based large-scale pork production business with farms in North Carolina and Georgia, filed for chapter 11 protection on Thursday, April 8, in the Bankruptcy Court for the Eastern District of North