Gold’s Gym Files for Bankruptcy in Dallas
The Dallas-based company has tapped lawyers at Dykema to lead it through Chapter 11. Natalie Posgate reports on this story and another bankruptcy filing by a Dallas men's clothier.
Three Weeks After Whopping Judgment, Diamondback Industries Files for Bankruptcy
Three weeks after losing the very first IP trial decided by U.S. District Judge Alan Albright, Crowley-based Diamondback Industries filed for bankruptcy protection, citing the $40 million judgment as first among their debts. Natalie Posgate has the details.
DBJ: JCPenney, Neiman Marcus Skipped Debt Payments this Week Amid Bankruptcy Reports
The DFW-based retailers skipped debt payments this week as the COVID-19 pandemic ravages retailers and reports that both are possibly in bankruptcy talks, according to multiple reports.
CEC Entertainment Hires Weil Gotshal and PJT Partners as Advisors in Possible Restructuring
The parent company of Chuck E. Cheese and Peter Piper Pizza has created a committee to explore restructuring and financing opportunities and hired two highly-respected firms as its primary outside advisors, according to documents filed by CEC Entertainment with the U.S. Securities and Exchange Commission.
Report: Bankrupt Oil and Gas Producers Number 215 Since 2015
Oilfield services providers followed with 204 bankruptcies over the last five years and midstream providers amounted to 30, according to Haynes and Boone. But few in the oil and gas industry will be immune given low oil prices and uncertainty around the demand-sapping coronavirus.
DBJ: Dean Foods Finds Buyer for ‘Substantial Portion’ of Business Operations Amid Chapter 11 Proceedings
Dairy Farmers of America will acquire 44 of Dean’s fluid and frozen assets for $433 million in cash. The Dallas Business Journal has more on the story.
Report: Borrowing Bases Expected to Slide at Least 20% After Oil Free-Fall
The results contrast with Haynes and Boone’s fall survey, which found the largest share of respondents predicting a 10% decrease during redetermination season.
Airline Bailouts and Bankruptcy – Not So Simple
The government is closing in on a $50 billion infusion of emergency aid to the airline industry in light of the extraordinary decrease in demand for air travel following the onset of COVID-19. While well-intended, the proposed package is insufficient to ward off catastrophic airline failures.
Charlie Beckham Sees ‘No Exit’ – A Lawbook Q&A
Longtime Houston bankruptcy attorney Charlie Beckham at Haynes and Boone lays out the landscape for the avalanche of Chapter 11's expected in the oil industry thanks to the recent slide in commodity prices.
Chapter 11 for Boy Scouts of America
The Boy Scouts of America filed for bankruptcy overnight in Delaware. The Irving-based nonprofit has reached out to a Chicago law firm to advise in the development of a trust to deal with the legal fallout from lawsuits claiming decades of sexual abuse.