The hottest Restructuring Substack posts right now

The article discusses recent bankruptcy cases involving companies like Wesco Aircraft Holdings Inc. and Instant Brands Acquisition Holdings Inc.
The bankruptcy cases highlighted the complex interactions between lenders and debtors, showcasing the challenges and strategies involved in negotiations.
Key themes in the cases include asset stripping, liability management, regulatory approval challenges, and the role of different parties in bankruptcy proceedings.

The WeWork debtors are in conflict with landlords over unpaid rent, leading to a heated legal battle.
Cano Health Inc. and its affiliates filed for Chapter 11 bankruptcy in Delaware due to financial struggles and bad acquisitions.
The restructuring support agreement for Cano Health aims to deleverage the company's balance sheet through a sale process and a proposed $150 million DIP financing.

Serta Simmons faced backlash for complex liability management exercise
SSB filed for bankruptcy despite previous actions focusing on liquidity and deleveraging
Corner Bakery Corp. filed for Chapter 11 due to struggles exacerbated by pandemic and internal management issues

Careismatic Brands LLC and affiliates filed for chapter 11 bankruptcy in January 2024
The bankruptcy was influenced by factors such as revenue trends, increased costs, and online competition
A restructuring plan involving an equitization agreement and a super-senior DIP loan is in progress

Assembling a folding bicycle involves over a thousand components and skilled bike builders for final assembly.
Piecework payment system led to highly skilled assemblers who could work at incredible speeds.
Transitioning to a production line system from piecework can be culturally disruptive and challenging, impacting the identity and skills of employees.

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Audacy Inc. and its subsidiary affiliates filed for Chapter 11 bankruptcy in January 2024.
The debtors reached an agreement with lenders on a deleveraging transaction to reduce debt from $1.9b to $350mm.
The first lien claims will get 75% of post-reorg equity, while second lien claims will get 15%.

2023 could be a challenging year for gaming studios like Ubisoft due to a push for efficiency
AI is being explored for game development content and design
Gaming industry is projected to surpass Pay-TV in consumer spending by 2026

Company reorganizations are cyclical, going through phases of growth and downsizing.
Reorganizations are like operating on a living creature - complex and challenging.
Approaching reorganizations as an engineering problem does not consider the human element.

Cano Health Inc. filed for Chapter 11 bankruptcy due to financial struggles and alleged mismanagement.
Debtors secured a restructuring support agreement with key lenders to address their balance sheet and assets.
The bankruptcy process involves potential asset sales and financial restructurings to navigate the company's financial challenges.