Free Speech, Due Process and Trial by Jury
Tuesday Morning Corp. filed voluntary petitions for protection under Chapter 11 bankruptcy, in response to the strain that COVID-19 pandemic and related store closures have put on the company, the Dallas Business Journal reports. The Dallas-based retailer retained Haynes and Boone to guide it through its corporate restructuring.
A Tulsa, Oklahoma-based shale driller and a Houston-based provider of drilling fluids are the latest companies in the energy industry to file for bankruptcy protection in South Texas federal courts.
If the forecast by Norwegian energy research firm Rystad Energy is true, the number of energy bankruptcies from the coronavirus-driven oil crash will eclipse that of the last bust.
The Southern District of Texas has been a hub for corporate bankruptcies for some time, but even more so now as energy companies continue to be crippled by the one-two punch of the coronavirus outbreak and oil price war. Natalie Posgate explains the circumstances behind three new energy bankruptcies in Houston and identifies their lawyers.
The country is about to witness an unprecedented number of corporate bankruptcy filings. Companies that were otherwise healthy 90 days ago or at least had a fighting chance of avoiding a trip through the bowels of bankruptcy are now faced with the grim reality of a Chapter 11 filing. Gary Kennedy, who guided American Airlines through one of the most successful corporate bankruptcies in history, provides guidance for companies facing restructuring.
The stores in the real estate investment trust would be leased to a new operating company called "New JCP", according to court documents.
More Texas businesses are filing for bankruptcy this year than during the Great Recession or anytime in the past two decades, and legal experts say the wave of insolvencies and restructurings is still far from breaking or hitting their peak. Houston has emerged as the preferred venue for large, complex restructurings for companies such as J.C. Penney and Neiman Marcus, though Dallas has a new bankruptcy judge on deck. The Texas Lawbook examines the trends and provides analysis from the top bankruptcy experts.
Ending weeks, even months, of speculation, Texas-based retailer J.C. Penney filed for Chapter 11 bankruptcy protection late Friday in the Southern District of Texas. Natalie Posgate reports.
© Copyright 2025 The Texas Lawbook
The content on this website is protected under federal Copyright laws. Any use without the consent of The Texas Lawbook is prohibited.
