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 the year’s 19th hotel chapter 11 – Mary Brickell Village Hotel, which owns the Aloft Miami Brickell Hotel – as well as traffic control steel pole manufacturer Pelco Structural, real estate developer Heron Development and one single asset real estate debtor, Nassau Brewing Company Landlord. For access to the full analysis click here, plus for our First Day by Reorg team’s coverage of all U.S. chapter 11 cases filed since 2012 with over $10 million in liabilities including hotel and real estate chapter 11 filings click here to request a trial.
Contact: Matt Danese