Here's what we are reading this morning: BNPL users report problems with overspending, missed payments: survey | Retail Dive: Consumers are using buy now, pay later services to spread out their cash flow, according to a new Bankrate report.  The Honorable Judge Kevin J. Carey (Ret.) | Hogan Lovells: We are extremely saddened by the passing of our colleague, the Honorable Kevin J. Carey (ret.). Judge Carey, a lion of the bankruptcy bar, was most recently Senior Counsel in Hogan Lovells’ Restructuring and Special Situations practice in the Philadelphia office. Faraday Future fa ..read more

Here's what we are reading this morning: VistaJet Yearly Earnings Drop as Private Jet Firm’s Debt Pile Grows - Bloomberg: VistaJet Group Holding Ltd., one of the world’s biggest private jet firms, saw its adjusted earnings drop roughly 5% last year as it debts mounted, according to documents seen by Bloomberg. Dollar stores are shutting down across America. They did this to themselves | CNN Business: Years of strategic mistakes and underinvestment have plagued Family Dollar and 99 Cents Only, retail analysts say. Both brands were acquired by other companies and faltered under their new owner ..read more

Here's what we are reading this morning: North Carolina Judges Are Shaping ‘Two-Step’ Bankruptcy Future: A Charlotte, N.C., bankruptcy court has taken a leading role in interpreting an increasingly controversial litigation maneuver, paving the way for potential clashes at higher venues—including the US Supreme Court. Milwaukee Marriott Downtown files for bankruptcy - Milwaukee Business Journal: Milwaukee Marriott Downtown is the latest city hotel with financial struggles ..read more

Here's what we are reading this morning: Adam Aron: "It's Inconceivable That AMC Would File for Chapter 11": The CEO of the world's largest movie theater chain is in Las Vegas this week for CinemaCon, where AMC's fate is a hot topic among rivals and major studios ..read more

Here's what we are reading this morning: 99 Cents Only Stores Files for Voluntary Chapter 11 Protection to Facilitate Wind-Down of Business Operations and Pursue Value Maximizing Sale of its Real Estate and Other Assets: The Company has secured $60.8 million in senior secured super priority debtor-in-possession financing consisting of $35.5 million in new money to be provided by an entity affiliated with certain of the Company's existing stakeholders, subject to court approval, to facilitate the wind-down and pursue a value maximizing sale of its real estate and other assets. Movie Theaters ..read more

Here's what we are reading this morning: 99 Cents Only Stores Announces Wind-Down of Business Operations: The Company has entered into an agreement with Hilco Global to, among other things, liquidate all merchandise owned by the Company and dispose of certain fixtures, furnishings, and equipment at the Company's stores. Sales under this agreement are expected to begin April 5, 2024 and will be carried out at all 371 of the Company's store locations. EV bankruptcies put their software-defined vehicles at risk | Automotive News: In an era where each new model contains proprietary software, com ..read more

Here's what we are reading this morning: Altice secured creditors prepare cooperation agreement: A group of Altice France’s secured creditors are in talks to form a cooperation agreement, which would bind them to act together in potential talks with the struggling telecoms company, according to 9fin sources. CVC Capital-Backed ConvergeOne Files for Bankruptcy to Cut $1.6 Billion in Debt - WSJ: The proposed reorganization could give ownership to lenders including Silver Point Capital and Monarch Alternative Capital Fisker confirms advisor retentions: SEC filing: "The Company continues to eva ..read more

Here's what we are reading this morning: Private payrolls increased by 184,000 in March, better than expected, ADP says: Private sector job growth expanded in March at its fastest pace since July 2023, ADP reported Wednesday. Fisker Appoints John Dubel to its Board: "The Company continues to evaluate strategic alternatives. Such alternatives may include in or out of court restructurings, capital markets transactions (subject to market conditions), repurchases, redemptions, exchanges or other refinancings of the Company’s existing debt, the potential issuance of equity securities, the potenti ..read more

Here's what we are reading this morning: Global Contagion Risk Growing from Rising CRE Losses, Led by Office: Credit trends in global commercial real estate (CRE) loans will continue to deteriorate through 2025, which will impact commercial mortgage backed securities (CMBS), banks, life insurance companies, non-bank financial institutions and public finance issuers, Fitch Ratings says. The Dollar-Store Showdown Comes Down to Real Estate - WSJ: Dollar General, located mostly in rural areas, plans expansion, while the more urban-focused Family Dollar will close hundreds of stores WeWork to Sa ..read more

Here's what we are reading this morning: Sacramento Catholic Diocese files for bankruptcy over abuse lawsuits | Sacramento Bee: “The likely cost of the lawsuits far outstrips the diocese’s funds available for litigation or settlement.” Chile Telecom Operator WOM Files for Bankruptcy in the US - Bloomberg: WOM, once a rising Chilean startup that vowed to challenge the country’s dominant telecom operators, filed for bankruptcy after falling short on a plan to refinance $348 million in debt due in November. Eiger BioPharmaceuticals Files for Bankruptcy - WSJ: Shares of Eiger BioPharmaceuticals ..read more