Bankruptcy News

CLEVELAND--(BUSINESS WIRE)--Everstream (the “Company”), a business-only fiber network, today announced that it has reached an agreement to sell substantially all of its operations to an affiliate of Bluebird Fiber (“Bluebird”), a regional provider of fiber-based connectivity solutions for businesses. The transaction will enable the Company to advance its core market optimization strategy from a strengthened financial position. This step follows Everstream’s sale of its Illinois and St. Louis me...

MIAMI--(BUSINESS WIRE)--Galloway Capital Partners, LLC and its affiliates (collectively, “Galloway”) announced today that they are considering pursuing legal action against WW International, Inc. (OTCPK: WGHTQ) (“WW” or the “Company”), Company’s management, Board of Directors, and the Company’s lenders. This is response to the United States Trustee rejecting Galloway’s request, on behalf of itself and certain other shareholders of WW International, Inc. (OTCPK: WGHTQ) (“WW” or the “Company”), t...

PHILADELPHIA--(BUSINESS WIRE)--Rite Aid Corporation (“Rite Aid” or the “Company”) today announced that it has successfully entered into a series of sale agreements and pharmacy services transition agreements. This includes the rolling transition of pharmacy assets from more than 1,000 store locations across the U.S. to operators including CVS Pharmacy, Walgreens, Albertsons, Kroger, and Giant Eagle, among others, as well as the sale and operation by CVS Pharmacy of many Rite Aid and Bartell Dru...

PHILADELPHIA--(BUSINESS WIRE)--Rite Aid Corporation (“Rite Aid” or the “Company”) today announced that it is pursuing a strategic and value-maximizing sale process for substantially all of its assets. To facilitate this process, the Company and its subsidiaries commenced voluntary Chapter 11 proceedings in the U.S. Bankruptcy Court for the District of New Jersey. During this process, Rite Aid customers can continue to access pharmacy services and products in stores and online, including prescri...

NEW YORK--(BUSINESS WIRE)--Certain bondholders of the Puerto Rico Electric Power Authority (“PREPA”), including, Assured Guaranty Inc., GoldenTree Asset Management LP, National Public Finance Guarantee Corporation, the PREPA Ad Hoc Group and Syncora Guarantee, Inc., today issued the following statement: The recent island-wide power outage, which left the people in Puerto Rico without electricity during Holy Week, was devastating for residents. The outage showed yet again the complete failure of...

PLANO, Texas--(BUSINESS WIRE)--Zips Car Wash, LLC (together with its affiliates, collectively “ZIPS” or the “Company”), one of the largest privately-held car wash operators nationwide, announced that it has successfully completed its financial restructuring and emerged from its chapter 11 process on April 30, 2025, following confirmation of the Company’s Plan of Reorganization on April 18, 2025. ZIPS emerges from this process as a financially stronger company, better positioned to continue prov...

HUNT VALLEY, Md.--(BUSINESS WIRE)--Diamond Comic Distributors (“Diamond” or “the Company”), today announced that the United States Bankruptcy Court for the District of Maryland (“the Court”) has approved a combined bid by Universal Distribution LLC (“Universal”) and Ad Populum to acquire the assets of Diamond Comic Distributors. Under the agreement, Universal will acquire the assets of Alliance Game Distributors, and Ad Populum will acquire the assets of Diamond Comic Distributors, Diamond Book...

SUNNYVALE, Calif.--(BUSINESS WIRE)--Mitel Networks Corporation, (together with certain affiliates, “Mitel” or “the Company”), a global leader in business communications, today announced that the U.S. Bankruptcy Court for the Southern District of Texas (the “Court”) confirmed the Company’s prepackaged Plan of Reorganization (the “Plan”). Completion of the Company’s restructuring process is expected within the current calendar quarter, resulting in significantly less debt, and a stronger capital...

BAKERSFIELD, Calif.--(BUSINESS WIRE)--Global Clean Energy Holdings, Inc. (OTCMKTS: GCEH) ("GCE" or the "Company"), a vertically integrated renewable fuels company, announced today it entered into a Restructuring Support Agreement (the “RSA”) with agreement and support from Vitol Americas Corp., as RCF lender, an ad hoc group of term loan lenders which holds approximately 96% of the term loans, and CTCI Americas, Inc. (“CTCI”). To facilitate the transactions contemplated under the RSA, the Compa...

NASHVILLE, Tenn.--(BUSINESS WIRE)--Wellpath and certain of its affiliates (“Wellpath” or the “Company”), the nation’s leader in providing compassionate medical healthcare to vulnerable patients in challenging clinical environments, announced today that it has reached a global settlement with the Statutory Unsecured Claimholders’ Committee (the “Committee” or “UCC”) and its Ad Hoc Lender Group on a consensual Plan of Reorganization (the “Plan”). Following productive engagement with the Ad Hoc Le...