Cineworld Reaches Deal With Creditors to Shave Billions of Debt: Cineworld Group Plc is set to submit its bankruptcy-exit plan on Wednesday after reaching a deal with creditors to trim billions of dollars of debt from its balance sheet, according to a lawyer for the company.
Former Bed Bath & Beyond CEO sues over unpaid severance | Retail Dive: According to the court document, Bed Bath & Beyond’s chief legal officer, David Kastin, acknowledged the company stopped paying Tritton in order to preserve its cash reserves.
Talen Energy Nets Regulator Approval of $1.9 Billion Equity Offer: Power generation company Talen Energy Supply LLC says it’s received sign-off from federal energy regulators to begin offering up to $1.9 billion in equity rights.
Bed Bath Begins Three-Week Countdown to Possible Bankruptcy – Bloomberg: It took Bed Bath & Beyond Inc. almost two months to raise $360 million in emergency financing from a hedge fund positioned to profit from the deal. It wasn’t enough.
RadioShack in Trouble Again as Creditor Kicks Off Forced Auction: The husk of storied electronics retailer RadioShack is for sale once again as its owner finds itself on shaky financial footing.
Virgin Orbit files for bankruptcy | Nasdaq: Richard Branson’s Virgin Orbit Holdings VORB.O filed for Chapter 11 bankruptcy after the satellite launch company failed to secure the long-term funding needed to help it recover from a January rocket failure.