Restructuring Report

Stretto
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Stretto’s Restructuring Report is a podcast featuring notable stories curated by professionals, and powered by Stretto Intelligence. Join us each week for highlights, updates, and news impacting restructuring professionals.  Dig deeper into research and analysis online, using Research Suite by Stretto, now enhanced by AI to make it easier for professionals to find, review, and understand information that matters most.  Visit researchsuite.stretto.com to learn more.

  1. 6D AGO

    May 4, 2026 - FreshRealm, Wiser Solutions, Impac Mortgage Holdings

    This episode covers key developments in three major restructuring and bankruptcy cases: FreshRealm, a fresh food manufacturer supplying major partners like Blue Apron and Walmart, files for Chapter 11 after a series of Listeria outbreaks wiped out roughly 90% of its revenue, entering with $168 million in secured debt, a $63 million DIP facility, and a stalking horse sale to Misfits Market as it pursues insurance recoveries exceeding $40 million. Wiser Solutions, a pricing analytics and retail intelligence software provider, files for Chapter 11 with approximately $563 million in funded debt, launching a credit-bid sale process backed by its senior lender and supported by $34.2 million in DIP financing, following years of acquisition-driven growth that left the company with operational redundancies. And Impac Mortgage Holdings files a prepackaged Chapter 11 designed to preserve more than $1.4 billion in tax attributes, with a sponsor converting secured debt into full ownership of the reorganized company under a structure aimed at maximizing the value of net operating losses. 💡 From food safety crises and SaaS consolidation challenges to tax-driven restructurings, this episode explores how operational shocks, capital structure strain, and strategic bankruptcy tools are shaping outcomes across today’s Chapter 11 landscape. Thank you for listening! Visit stretto.com for more information. Follow us on LinkedIn.

    5 min

  2. APR 27

    April 27, 2026 - Artist & Craftsman Supply, Carbon Health Technologies, BRD Land & Investment, Cyprus Mines Corporation

    This episode covers key developments in four major restructuring and bankruptcy cases: Artist & Craftsman Supply files a disclosure statement projecting a 100% recovery for all creditor classes, outlining a reorganization plan that preserves its remaining retail footprint while demonstrating significantly higher recoveries than a Chapter 7 liquidation. Carbon Health Technologies seeks court approval of a $100 million credit bid backstop sale, positioning its lender to acquire the business if its reorganization plan fails, as the company faces mounting administrative costs and potential liquidity constraints ahead of confirmation. BRD Land & Investment files a Chapter 11 liquidation plan projecting approximately 16% recovery for unsecured creditors, following a collapse in residential development demand that erased hundreds of millions in projected revenue. And Cyprus Mines Corporation secures approval for an additional $3 million in DIP financing, extending a long-running case tied to talc litigation as it approaches a critical plan confirmation deadline nearly five years after filing. 💡 From full-recovery retail reorganizations and healthcare sale backstops to real estate liquidations and litigation-driven bankruptcies, this episode explores how market shifts, capital constraints, and legal timelines are shaping outcomes across today’s Chapter 11 landscape. Thank you for listening! Visit stretto.com for more information. Follow us on LinkedIn.

    5 min

  3. APR 13

    April 13, 2026 - Office Properties Income Trust, FAT Brands, Axip Energy Services, BlockFills

    This episode covers key developments in four major restructuring and bankruptcy cases: Office Properties Income Trust heads toward confirmation of its $2.4 billion restructuring, following extensive intercreditor disputes and a series of settlements that stabilized enterprise value and reduced leverage through conversion of its DIP facility into equity, leaving unsecured noteholders with modest recoveries and wiping out existing equity. FAT Brands enters the final phase of its Chapter 11 sale process after resolving a high-profile governance battle, with bids due April 24th and lenders positioned to credit bid nearly $1 billion in debt if no third-party offers emerge. Axip Energy Services completes a $161 million Section 363 sale in just 43 days, one of the fastest recent processes in the Southern District of Texas, though the outcome leaves unsecured creditors and junior stakeholders facing little to no recovery. And BlockFills, a digital asset brokerage, advances a dual-track restructuring strategy combining a potential customer-led NewCo transaction with a court-supervised sale, as the case centers on whether customer crypto assets constitute property of the estate. 💡 From distressed office real estate and franchise governance battles to rapid asset sales and crypto restructuring frameworks, this episode explores how speed, stakeholder negotiations, and emerging legal questions are shaping outcomes across today’s Chapter 11 landscape. Thank you for listening! Visit stretto.com for more information. Follow us on LinkedIn.

    8 min

  4. APR 6

    April 6, 2026 - Yellow Corporation, Bravo Brio Restaurants, SmartFi, RAD Diversified REIT cases

    This episode covers key developments in four major restructuring and bankruptcy cases: A Delaware bankruptcy court issues a mixed ruling on Yellow Corporation’s $1.44 billion pension settlements, approving agreements with thirteen plans while rejecting three that deviated from a standardized valuation methodology or included excessive damages, allowing approved settlements to proceed as litigation continues on the remainder. Bravo Brio Restaurants secures confirmation of its Chapter 11 plan after the court estimates nearly $12 million in claims by inKind at zero, resolving the case’s only objection and clearing the way for unsecured creditors to recover from a limited distribution funded by asset sales. A Utah bankruptcy court orders the appointment of a Chapter 11 trustee for crypto lender SmartFi, rejecting conversion to Chapter 7 and citing commingled assets, questionable transactions with affiliates, and the need for independent oversight to preserve potential recoveries. And a Florida bankruptcy court appoints an examiner in the RAD Diversified REIT cases, launching a sweeping investigation into investor funds, asset transfers, and insider transactions amid ongoing scrutiny from the SEC, state regulators, and federal authorities. 💡 From pension liability disputes and claim estimation battles to crypto governance breakdowns and real estate investigations, this episode explores how courts are navigating complex financial structures, creditor recoveries, and regulatory oversight in today’s Chapter 11 landscape. Thank you for listening! Visit stretto.com for more information. Follow us on LinkedIn.

    9 min

  5. MAR 23

    March 23, 2026 - Uncle Nearest, The LYCRA Company, BlockFills, FAT Brands

    This episode covers key developments in four major restructuring and bankruptcy cases: The Uncle Nearest whiskey company’s Chapter 11 cases are dismissed just two days after filing, with the court ruling that a court-appointed receiver—already in place from prior litigation—held exclusive authority to commence bankruptcy, underscoring the limits of debtor control in receivership scenarios. The LYCRA Company files a prepackaged Chapter 11 to eliminate approximately $1.2 billion in debt, backed by broad creditor support and a $75 million DIP facility, positioning the global fiber manufacturer for a rapid restructuring that wipes out existing equity while leaving unsecured creditors unimpaired. BlockFills parent Reliz Technology Group enters Chapter 11 with roughly $145 million in unsecured claims, following a series of crypto-related losses and litigation, while pursuing a restructuring that would transfer its platform and customer accounts into a new entity with creditor participation. And FAT Brands seeks approval of a $76.9 million DIP financing package—including a significant debt roll-up—to fund operations and support a near-term sale process, alongside governance changes that shift control to a special committee as part of lender negotiations. 💡 From receivership conflicts and prepackaged restructurings to crypto market fallout and franchise-driven restaurant sales, this episode explores how governance disputes, capital structure resets, and volatile markets are shaping the evolving Chapter 11 landscape. Thank you for listening! Visit stretto.com for more information. Follow us on LinkedIn.

    6 min

  6. MAR 16

    March 16, 2026 - The Phoenix Fund, Archdiocese of New Orleans, Razzoo’s, Art Van Furniture

    This episode covers key developments in four major restructuring and bankruptcy cases: A Puerto Rico bankruptcy court rules that the automatic stay does not block a regulator’s enforcement action against The Phoenix Fund, holding that the island’s financial regulator may continue liquidation proceedings under the police power exception, and recognizing the court-appointed receiver—not prior management—as the debtor-in-possession. In the Archdiocese of New Orleans bankruptcy, the court finds that 81 abuse survivors lack standing to challenge attorneys’ fee applications following confirmation of the $230 million settlement plan, ruling that any fee reductions would benefit the reorganized debtor rather than the settlement trust under the case’s “pot plan” structure. Razzoo’s Cajun restaurant chain files a Chapter 11 liquidation plan after completing an $18.8 million asset sale, proposing a liquidating trust to distribute proceeds while unsecured creditors with roughly $7.4 million in claims are expected to recover between 5.5% and 6.8%. And the Art Van Furniture Chapter 7 trustee moves to sell the estate’s rights in long-running Visa/Mastercard interchange fee litigation for $850,000, reopening value from antitrust settlement claims tied to the retailer’s 2020 bankruptcy. 💡 From regulatory enforcement and survivor settlements to restaurant liquidations and antitrust litigation recoveries, this episode explores how courts are balancing public policy, creditor recoveries, and asset monetization across a diverse range of bankruptcy cases. Thank you for listening! Visit stretto.com for more information. Follow us on LinkedIn.

    8 min

  7. MAR 9

    March 9, 2026 - Cumulus Media, Lutheran Home and Services for the Aged, NFN8 Group, Buddy Mac Holdings

    This episode covers key developments in four major restructuring and bankruptcy cases: Cumulus Media, operator of 394 radio stations nationwide, files a prepackaged Chapter 11 in Houston with a deal to eliminate approximately $592 million in debt, reduce annual interest expense by nearly $49 million, and hand 95% of the reorganized equity to secured lenders. The filing marks the broadcaster’s second bankruptcy in seven years, driven by declining ad revenue, digital competition, and disputes over audience measurement data. An Illinois bankruptcy court confirms the reorganization plan of Lutheran Home and Services for the Aged, refinancing $180 million in bond debt and approving third-party releases over objections from the U.S. Trustee. The court held that consensual release provisions remain permissible under Seventh Circuit law following the Supreme Court’s Purdue decision. NFN8 Group, a Bitcoin mining operator, seeks approval of bidding procedures to sell substantially all assets under Section 363, proposing an all-cash auction process designed to repay DIP obligations in full as it markets its power rights, infrastructure, and equipment. And Buddy Mac Holdings, a rent-to-own retailer, asks to pay $370,000 in commissions tied to consulting services that generated approximately $8.45 million in Employee Retention Credit refunds, arguing the payment is contractually required and beneficial to the estate. 💡 From legacy broadcast media and senior living nonprofits to cryptocurrency mining and pandemic-era tax credits, this episode explores how balance-sheet restructurings, asset sales, and post-petition compensation disputes are shaping the current Chapter 11 landscape. Thank you for listening! Visit stretto.com for more information. Follow us on LinkedIn.

    7 min

  8. MAR 2

    March 2, 2026 - Hawthorne Race Course, FlexShopper, Paragon Industries, BRD Land and Investment

    This episode covers key developments in four major restructuring and bankruptcy cases: Hawthorne Race Course, North America’s oldest family-owned racetrack, files for Chapter 11 in Illinois while pursuing a Section 363 sale of substantially all assets. The filing follows frozen bank accounts, the loss of a key sportsbook partner, and a sharp drop in wagering deposits, with the company securing $16 million in DIP financing and prioritizing purse payments to horsemen as it works to preserve its racing license and casino rights. FlexShopper seeks emergency approval of a Transition Services Agreement with ReadySett, the court-approved buyer of its assets, to ensure a seamless servicing transfer of its loan portfolio following a sale targeted to close in early March. Paragon Industries, an Oklahoma steel pipe manufacturer, asks the court to approve a $40 million asset sale to Integrated Utility Services after a marathon auction process that drew seven bidders, excluding a controversial insider-linked bidder that failed to post a deposit. And BRD Land and Investment, a Charlotte-based land developer, files for Chapter 11 citing a $390 million collapse in projected revenue after homebuilders canceled projects, along with allegations that its senior lender imposed aggressive fees and accelerated paydowns that strained liquidity. 💡 From racetracks and retail finance to industrial manufacturing and residential land development, this episode examines how lender disputes, failed growth projections, and sale-driven restructurings are shaping the latest wave of Chapter 11 cases. Thank you for listening! Visit stretto.com for more information. Follow us on LinkedIn.

    8 min
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About

Stretto’s Restructuring Report is a podcast featuring notable stories curated by professionals, and powered by Stretto Intelligence. Join us each week for highlights, updates, and news impacting restructuring professionals.  Dig deeper into research and analysis online, using Research Suite by Stretto, now enhanced by AI to make it easier for professionals to find, review, and understand information that matters most.  Visit researchsuite.stretto.com to learn more.

Information

  • Creator
    Stretto
  • Years Active
    2025 - 2026
  • Episodes
    29
  • Rating
    Clean
  • Copyright
    © 2026 Stretto
  • Show Website
    Restructuring Report

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