Soma Biswas
Special Writer at The Wall Street Journal
Special Writer at WSJBankruptcy focusing on distressed investors. Email me at [email protected].
Articles
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1 week ago |
wsj.com | Soma Biswas
Prospect Medical Holdings will start transitioning some services currently provided by its two hospitals in Pennsylvania to other nearby medical providers in preparation for a full shutdown of the facilities the company has been threatening for months.
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2 weeks ago |
wsj.com | Alexander Gladstone |Soma Biswas
Rite Aid operated more than 2,000 locations and had about 47,000 employees at the time of its bankruptcy filing in October 2023. After shutting down many of its locations, Rite Aid emerged from chapter 11 last year with roughly 1,300 stores. If a sale doesn’t materialize either inside or outside of bankruptcy, the chain stands at risk of liquidating more of its footprint, the people said. Rite Aid remains a distant third in the pharmacy retail market, trailing industry leaders Walgreens and CVS.
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3 weeks ago |
wsj.com | Soma Biswas
Two hospitals in Ohio became the latest to shut down operations after the bankruptcies of two national hospital chains that leased facilities from the biggest healthcare landlord in the U.S. Insight Health, which took over Trumbull Regional Medical Center and Hillside Rehabilitation Hospital in Warren, Ohio, from bankrupt Steward Health Care last year, told nearly 700 employees that they were furloughed or laid off and that work was suspended at the facilities effective Friday, according to a...
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4 weeks ago |
wsj.com | Jodi Xu Klein |Soma Biswas
Privately-owned online retailer Rugs USA is working with restructuring advisers to hand control to its lenders, according to people familiar with the company. The Cranbury, N.J.-based rug and home-furnishing retailer has hired financial adviser PJT Partners and law firm Kirkland & Ellis, the people said. The company, owned by Francisco Partners, missed debt payments earlier this month, they said. Copyright ©2025 Dow Jones & Company, Inc. All Rights Reserved. 87990cbe856818d5eddac44c7b1cdeb8
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1 month ago |
wsj.com | Soma Biswas |Alicia McElhaney
As recession fears amp up, struggling businesses have one thing working in their favor: They have never been more adept at reordering their debts to avoid bankruptcy. U.S. companies have been engaging in liability management exercises, or LMEs, that raise fresh capital and extend debt maturities while avoiding the expense of chapter 11.
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RT @jodixu: Fast-fashion retailer Forever 21 is considering filing for bankruptcy after exiting its last chapter 11 roughly five years ago,…
My scoop with Heather Haddon: TGI Fridays nears bankruptcy filing https://t.co/FV851N511V via @WSJ
My exclusive story on the latest twist in battle over the Bausch + Lomb: Bausch turned down debt-restructuring proposals from bondholders as it explores a sale of its vision care subsidiary, people familiar with the matter said https://t.co/P81YOLTD6F via @WSJ