Chapter 11

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...

Spirit Airlines Inc (NYSE:SAVE) is facing turbulent skies ahead. While the broader airline industry is flying high, Spirit's financial woes are pushing it toward a potential bankruptcy. With debt piling up and its stock plummeting, the budget carrier is now fast-tracking the retirement of its...

Gritstone bio Inc. (NASDAQ:GRTS) shares are trading lower by 64.2% to $0.07 during Thursday’s session after the company announced it voluntarily filed for Chapter 11 restructuring. What Else: Gritstone Bio says the company plans to use the court-supervised restructuring to preserve value...

When word got around that Spirit Airlines, Inc. (NYSE:SAVE) was considering a bankruptcy filing, critics quickly took to social media to blame the Biden administration. Why? Recall how, in January, U.S. antitrust regulators successfully blocked JetBlue Airways Corporation (NASDAQ:JBLU) from buying...

Spirit Airlines Inc. (NYSE: SAVE) experienced a significant drop of over 40% in pre-market trading on Friday. This decline follows reports of the airline engaging in bankruptcy talks with bondholders. At the time of writing, it was trading at $1.35 while it closed at $2.24 on Wednesday,...

Big Lots, Inc.’s (NYSE:BIG) filing for Chapter 11 bankruptcy protection could signify a growth opportunity for competitor Ollie’s Bargain Outlet Holdings, Inc. (NASDAQ:OLLI), an analyst said. The Columbus, Ohio-based discount retailer confirmed Monday that it would sell all of its...

Red Lobster, formerly the largest seafood restaurant chain in the world, officially filed for Chapter 11 bankruptcy protection on Monday. The chain, formerly owned by restaurant group Darden Restaurants Inc (NYSE:DRI), began auctioning off kitchen equipment at some locations, but does not plan to...

SmileDirectClub Inc. (NASDAQ: SDC), a dental aligner manufacturer, has filed for bankruptcy just a few years after its remarkable $1.35 billion IPO. What Happened: The Nashville-based company made its Chapter 11 declaration in Texas this past week. The move will allow it to sustain...

Distressed trucking firm Yellow Corp. (NASDAQ:YELL) is reportedly contemplating an asset and real estate sale via a bankruptcy filing, potentially happening as soon as this weekend, sources close to the matter reveal. A potential financial bidder has already shown interest in the assets of the...

The image that the FTX sought to portray as the customer-focused leader of the digital age was a "mirage," stated CEO and Chief Restructuring Officer of the FTX Debtors John J. Ray III on Monday. FTX Debtors released a report revealing the misuse and intermingling of...

The closing down process of cryptocurrency exchange FTX (CRYPTO: FTT) is anticipated to come with an astronomical price tag as professional fees have already surpassed $200 million, according to a court document submitted on Tuesday by a court-appointed examiner. Katherine Stadler, an attorney...

BlockFi clients can expect the return of almost $300 million held in custodial wallets, following a decision by New Jersey Bankruptcy Judge Michael Kaplan Thursday.  He ruled that these assets belong to the customers and not the bankrupt crypto lender's estate, Coindesk reported. Kaplan...

Bed Bath & Beyond Inc (NASDAQ: BBBY) filed for Chapter 11 bankruptcy protection on Sunday, reports Reuters.   According to its court filing, the big box store filed for bankruptcy in the U.S. District Court in New Jersey, listing its estimated assets and liabilities in...

A United States federal judge has granted the government's request to temporarily suspend Voyager Digital Ltd.'s bankruptcy plan, pausing the proposed sale of the cryptocurrency lending company to Binance.US. U.S. District Judge Jennifer Rearden approved the government's request for a...

Judge John Dorsey of the U.S. Bankruptcy Court for the District of Delaware denied a request on Feb. 15 for an independent examiner for FTX, citing additional expenses and unnecessary burden on the creditors and debtors. According to the judge, if an examiner were appointed, the cost of the...