bankruptcy

New On The Block Tylenol and Listerine maker Kenvue Inc. (NYSE:KVUE) just named board member Kirk Perry as interim CEO, replacing Thibaut Mongon, as part of a strategic review to boost shareholder value. The company, once a part of Johnson & Johnson (NYSE:JNJ) and now a top-five favorite in...

New On The Block Abry Partners hired JPMorgan Chase to find a buyer for physician social network Sermo, Axios reports. Bids are expected to be between $600 million and $800 million. Boston-based Abry first invested in Sermo in 2019. Verint Systems Inc. (NASDAQ:VRNT), a provider of call center...

Del Monte Foods, a 138-year-old titan in canned fruits and vegetables, filed for Chapter 11 bankruptcy on July 1 in the U.S. Bankruptcy Court for the District of New Jersey, aiming to restructure its finances and pursue a sale of its assets. What Happened: The company, known for brands like Del...

New On The Block Bahama Breeze may soon be gone with the wind. Darden Restaurants (NYSE:DRI) is considering selling the Caribbean-inspired chain or repurposing all its locations. The decision comes after Darden closed 15 Bahama Breeze restaurants in May, leaving just 28. Guru Focus reported that...

New On The Block Spanish La Liga club Getafe is considering a sale, per The Telegraph. On the buyside is Fenway Sports Group (FSG), the Boston-based firm led by billionaire John W. Henry. FSG already owns Liverpool FC, the Boston Red Sox and Pittsburgh Penguins. Ángel Torres, Getafe's current...

New On The Block Bankers say these biscuits are worth billions. The $1.5 billion asking price for Bojangles, the fried chicken and biscuit fast-food chain, is about triple what private equity firms Durational Capital Management and TJC paid in 2019—just four years after the chain went public....

New On The Block Byron Allen's Allen Media Group has hired Moelis & Company to explore a sale of its TV stations across 21 markets. The company spent over $1 billion acquiring Big Four network affiliates (ABC, NBC, CBS, FOX) over the past six years. It is now looking to cash out and reduce...

New On The Block Revolution Beauty is putting itself in the shop window. The UK cosmetics brand has kicked off a formal sale process and is considering funding options as part of a broader strategic review, including a potential sale. Advisors are on board and talks with interested parties have...

Editor’s note: This story has been updated to include a statement from a Tempus AI spokesperson. Spruce Point Capital Management has announced a new short position against Tempus AI Inc. (NASDAQ:TEM). On Wednesday, the short seller raised concerns about the company’s management team....

NSFW content platform OnlyFans is seeking a tantalizing $8 billion price tag. Leonid Radvinsky‘s Fenix International, the UK-based parent company, is chatting with a consortium led by U.S. investment firm Forest Road Company. The group includes Disney and TikTok alum Kevin Mayer, because...

Silicon carbide component manufacturer Wolfspeed Inc. (NYSE:WOLF) is preparing to file for prepackaged Chapter 11 bankruptcy protection in the coming weeks. What Happened: Facing mounting debt and failed out-of-court restructuring talks with key creditors, the company is reportedly...

New On The Block Starbucks (NASDAQ:SBUX) is brewing up some big decisions for its China business, including a potential stake deal that could fetch several billion dollars. The coffee giant has been quietly chatting with tech firms and private equity players, hoping someone might want a sip of its...

New On The Block TSG Consumer Partners is reportedly eyeing a sweet deal—a minority stake in Crumbl, the Utah-based cookie empire that could be worth a jaw-dropping $2 billion. Meanwhile, Blackstone and Golub Capital are cooking up something too, whipping together a $500 million unitranche loan to...

New On The Block Jack in the Box (NASDAQ:JACK) is exploring strategic options for Del Taco, including a potential sale, just two years after acquiring it for $585 million. According to Bloomberg, the fast-food chain could fetch up to $200 million. The company is working with Bank of America on the...

New On The Block Willow Tree Credit Partners seeks to sell a minority stake and is soliciting potential buyers, according to Bloomberg. The New York-based firm has about $5 billion in assets under management. Bloomberg also reports that Zurich-based Partners Group is divesting a 49% stake in...