Bankruptcy News

MALVERN, Pa.--(BUSINESS WIRE)--LifeScan, Inc. (“LifeScan” or the “Company”), a world leader in blood glucose monitoring, today announced that it has entered into a Restructuring Support Agreement (“RSA”) with its first- and second-lien lenders and current equity sponsor, Platinum Equity, that will transform its balance sheet and position the Company for a stronger and more profitable future. As contemplated in the RSA, LifeScan expects to reduce more than 75% of its debt, which will enable the...

SAN FRANCISCO--(BUSINESS WIRE)--Marin Software Incorporated (“Marin,” or the “Company”), announced today that it will implement a proposed financial reorganization transaction (the “Transaction”) that is expected to bolster its financial position, better serve its customers around the world and effectively position the Company for long-term success in the AI age. Marin remains fully operational during the reorganization process and expects there will be no impact to its installed customer base...

BENSALEM, Pa.--(BUSINESS WIRE)--HCSG Provides Update On Client Restructuring, Reiterates 2025 Growth and Cash Flow Expectations...

WESTLAKE VILLAGE, Calif.--(BUSINESS WIRE)--LTC Properties Inc. (NYSE: LTC) (“LTC” or the “Company”), a real estate investment trust that primarily invests in seniors housing and health care properties, learned yesterday that Genesis Healthcare, Inc. (“Genesis”) filed for Chapter 11 bankruptcy. Affiliates of Genesis lease six skilled nursing centers in New Mexico (five) and Alabama (one) with a total of 782 beds under a master lease with LTC. The master lease matures on April 30, 2026 and provid...

KENNETT SQUARE, Pa.--(BUSINESS WIRE)--Genesis HealthCare, Inc., along with its subsidiaries, announced today that it has taken steps to implement a financial restructuring to secure the long-term delivery of its mission. This process is designed to ensure that the Company can continue operating in a seamless manner, while also allowing the Company to address its legacy liabilities associated with previously divested operations. To facilitate the Company's restructuring efficiently and with mini...

SAN JOSE, Calif.--(BUSINESS WIRE)--Linqto, Inc., along with Linqto Texas LLC, Linqto Liquidshares LLC, and Linqto Liquidshares Manager LLC (collectively, “Linqto”) today announced that Linqto filed for voluntary Chapter 11 proceedings in the U.S. Bankruptcy Court for the Southern District of Texas (the “Court”). Linqto took this step to protect and maximize stakeholder value through a court-supervised restructuring and expects to continue operating throughout the restructuring process. “After c...

BERWICK, Pa.--(BUSINESS WIRE)--IG Design Group Americas, Inc. and its domestic subsidiaries (collectively, “DGA” or the “Company”), a design, manufacturing, sourcing, and distribution company of branded and private label consumer products, announced today that it has voluntarily filed for chapter 11 relief in the United States Bankruptcy Court for the Southern District of Texas (the “Court”) to facilitate a court-supervised marketing and sale process pursuant to section 363 of the Bankruptcy Co...

NEW YORK--(BUSINESS WIRE)--The Genesis Litigation Oversight Committee (“LOC”) today announced the public release of a fully unredacted version of its previously filed Delaware Court of Chancery complaint (“Delaware Complaint”), which lays out important evidence against Digital Currency Group Inc. (“DCG”), its CEO Barry Silbert, and a network of insiders accused of fiduciary breaches and fraud at Genesis Global Capital (“Genesis”) while the company was insolvent. Today’s news follows the LOC's a...

STAMFORD, Conn.--(BUSINESS WIRE)--Purdue Pharma L.P. (“Purdue”) today announced that the United States Bankruptcy Court for the Southern District of New York (the “Bankruptcy Court”) approved the Company’s disclosure statement for its Chapter 11 Plan of Reorganization. The disclosure statement provides creditors with detailed information on the terms of the Plan and will accompany the ballots that will be sent to the more than 600,000 claimants eligible to vote. The court has set a September 30...

DALLAS--(BUSINESS WIRE)--At Home Group Inc. (“At Home” or the “Company”) today announced steps the Company is taking to strengthen its financial foundation and position the business for long-term success while continuing to serve its customers. The Company has entered into a Restructuring Support Agreement (the "RSA") with lenders holding more than 95% of the Company’s debt that sets forth terms of a prearranged financial restructuring that will eliminate substantially all of the Company’s near...