Ah, the great pandemic ecommerce boom. It was a wild time. Companies raised big money at VC valuations to buy profitable small retail businesses at main street multiples. But the hot money ecommerce spending reverted back to normal, and it […]
Fun stuff from bankruptcy court. The company is screwed, but they have a crypto mining operation, and they want to continue to invest in it despite being screwed. “That’s the thing about bankruptcy that’s oh so beautiful. A company can […]
It’s always a pleasure to read the snarky voice of Petition, the bankruptcy newsletter. This piece is rare in that they’re chronicling the industry during its buildup. In Manhattan today there are a cohort of incredibly well-financed companies delivering products in ~20 […]
“The Texas Two-Step is a way of describing when a company with a f*ck ton of potential tort liabilities…” uses obscure Texas corporate law to limit that liability in bankruptcy court. One more quote: “If that sounds shady as f*ck […]
The incredible story of the company that leveraged a Reddit-fueled runup in its stock price to raise a bunch of money and avert its impending bankruptcy for a little while longer. Remember, this is not wall street vs the little […]
“America’s ailing malls suffered a pair of body blows over the weekend as two major landlords followed their ever-growing list of bankrupt tenants into Chapter 11 protection.” | learn more
Discussion of the link between education, finance and muni bonds. “I fear that the changes in store for higher education are going to look a lot like the painful changes we’ve seen in retail, travel, news, and entertainment.” | learn more
A timely example of second-order consequences. Due to the company’s bankruptcy, they have to sell a lot of cars in a hurry. | learn more
From the restructuring industry newsletter Petition: “Much like most other COVID victims, Hertz could be described as having mild pre-conditions that made it generally more susceptible to the virus. For years now, the company has been attempting to effectively treat […]
This recent issue of the newsletter Petition contains a bunch of interesting insights. Retailers are so far notably absent from restructuring. Why? One reason: it’s hard to do a Going Out of Business Sale when stores aren’t open. | learn more