In recent months, the private credit market has faced a series of shocks that reveal deep cracks in its foundation. The first blow came in September when two auto‑parts and auto‑lending firms, First Brands Group and Tricolor Holdings, both filed for bankruptcy. Their failures highlighted how much pr
Saks Global, which owns famous names like Saks Fifth Avenue and Neiman Marcus, fell into bankruptcy a little over a year after it was created. Many people blamed the former chairman, Richard Baker, for the collapse. In a quiet meeting in Manhattan, he told reporters that he was actually trying to he
The state has seen a sharp rise in company bankruptcies, climbing 25 % last year to the highest level since 2013. Nationwide, many people and firms are filing for bankruptcy, but Oregon’s rate is almost four times faster than the national average. High interest rates and inflation are squeezin
The flagship Saks Fifth Avenue on Canal Street will close its doors in April 2026. The decision comes as the parent company, Saks Global Enterprises, files for Chapter 11 and trims unprofitable locations nationwide. The New Orleans outlet has been a downtown landmark since the early 1980s, reopen
A San Diego company that sold gift cards to restaurants suddenly closed, and customers are left wondering what will happen to the money they still hold on those cards. The company, which had its cards sold at a major retail chain, announced it would file for Chapter 7 bankruptcy. It also told sho
Twin Hospitality Group, the company behind Twin Peaks sports bars, has hit a rough patch. They've filed for Chapter 11 bankruptcy, just one year after going public. This move comes as no surprise, given the company's struggles with dropping sales and a stock price that's taken a nosedive. The resta
The legal fight between Gemini Trust Company, Genesis Global Capital, and the US Securities and Exchange Commission (SEC) has finally wrapped up. The SEC decided to drop its civil lawsuit against Gemini and Genesis. This lawsuit was about Gemini's Earn program, which the SEC claimed was selling unre
Spirit Airlines is in deep trouble. The budget airline is talking to Castlelake, an investment firm, about a possible takeover. This comes as Spirit tries to pull itself out of bankruptcy for the second time in a year. Things went downhill fast after the pandemic. Costs went up, and fewer people wan
Genesis Health, a company that runs nursing homes, just got the green light to sell its facilities. The buyer is NewGen Health, a company from California. This deal is worth $1 billion. It's a big change for Genesis Health, which has been struggling with money problems. The sale got approved by a j
Spirit Airlines is in a tight spot. The budget airline filed for Chapter 11 bankruptcy late last year. Now, the big decision-makers are the bondholders, like Ken Griffin's Citadel. They hold the purse strings and will decide if Spirit gets the money it needs to keep flying or if it's game over. The
