Jayjeet Sharma

Nov 18, 2024 | ionanalytics.com | Jayjeet Sharma |Lucy Chapman

Data Insight Annual loan defaults are soaring, with this year’s rate of 4.7% surpassing 4.5% seen during the economic slowdown in 2020 triggered by the advent of the pandemic. It also marks the highest default rate since the global financial crisis, when defaults peaked at 10.5%. The trailing 12-month (TTM) US leveraged loan default rate jumped to 4.72% in October, up from 2.99% a year ago, according to Fitch Ratings.

Jul 1, 2024 | ionanalytics.com | Kennedy Rose |Paul Gunther |Jayjeet Sharma |Ben Miller

Chicken Soup for the Soul Entertainment Inc (CSSE) and 21 debtor affiliates filed for Chapter 11 bankruptcy protection on Friday (28 June) backed by a USD 20m debtor-in-possession financing facility, as the debtors face sharp opposition to certain first day relief. In the days since filing, certain of CSSE’s first day motions picked up opposition from parties including secured creditor MidCap Financial Trust, Cedar Advance and administrative and collateral agent HPS Partners LLC.

May 2, 2024 | ionanalytics.com | Kennedy Rose |Sara M. Tapinekis |Jayjeet Sharma |Shirley Williams

Fashion retailer rue21 found itself in Chapter 11 once again, this time seeking to conduct store closing sales and wind down its operations. The company comes to Chapter 11 backed by a cash collateral deal with prepetition ABL agent Bank of America. rue21 previously filed for bankruptcy in 2017, and the company reduced its debt load by about USD 700m and closed hundreds of stores.

Apr 26, 2024 | ionanalytics.com | Paul Gunther |Jayjeet Sharma |Kennedy Rose |Lucy Chapman

Early this week, fashion retailer Express Inc entered Chapter 11 to run a process to sell its assets in bankruptcy and to close underperforming stores. The store closing sales will be run by Hilco Merchant Resources. The company filed a bid procedures motion that eyes a 5 June action if the company receives offers for a going concern sale.

Apr 19, 2024 | ionanalytics.com | Sara M. Tapinekis |Dawn Grocock |Jayjeet Sharma |Ben Miller

Report Altice France’s strategy for deleveraging its balance sheet by designating Altice Media as an unrestricted subsidiary, and thereby keeping €1.55bn in expected sale proceeds out of the restricted assets bucket, triggered a swift market reaction. As creditor groups have reportedly formed and brought on restructuring professionals, the Debtwire legal analyst team explores the company’s in-court restructuring options in both France and the US.