Bankruptcy News

IRVING, Texas--(BUSINESS WIRE)--Alkegen (the “Company”), a leading specialty materials manufacturer, today announced that it has voluntarily commenced prepackaged chapter 11 cases in the U.S. Bankruptcy Court for the Northern District of Texas to implement the Restructuring Support Agreement ("RSA") that was previously announced on July 20, 2026. Under the terms of the RSA, Alkegen will eliminate approximately $3.1 billion of total debt and meaningfully improve its capital structure, positionin...

MINNEAPOLIS--(BUSINESS WIRE)--Sleep Number Corporation (Nasdaq: SNBR) today announced that it received Court approval for the sale of substantially all of the Company’s assets and ongoing business operations to SNBR Inc., a wholly owned subsidiary of Sleep Country Canada Inc., after making significant improvements to its prior proposal. The sale, which remains subject to customary closing conditions, is expected to close by July 31. Sleep Number’s day-to-day operations are continuing as normal,...

IRVING, Texas--(BUSINESS WIRE)--Alkegen (the “Company”), a leading specialty materials manufacturer, today announced that it has entered into a Restructuring Support Agreement (the “RSA”) with a supermajority of its key financial partners that will significantly reduce the Company’s debt, strengthen its balance sheet, and position it for future growth. Under the terms of the RSA, Alkegen has secured $315 million of new capital to support operations during the restructuring process and expects t...

NEW YORK--(BUSINESS WIRE)--Clearside Biomedical, Inc. (“Clearside” or the “Company”) today announced that it has completed its financial restructuring and emerged from Chapter 11. All conditions to the effectiveness of the Company’s plan of reorganization (the “Plan”), as confirmed by the United States Bankruptcy Court for the District of Delaware, have been satisfied or waived, and the Plan became effective on the closing date. The Plan was sponsored by Steel Partners, Ltd. (“Steel Partners”),...

WEST LAFAYETTE, Ind.--(BUSINESS WIRE)--Inotiv, Inc. (NASDAQ: NOTV) (the “Company”, or “Inotiv”), a leading Contract Research Organization specializing in nonclinical and analytical drug discovery and development services and research models and related products and services, announced today that the U.S. Bankruptcy Court for the Southern District of Texas has confirmed the Company’s Plan of Reorganization (the “Plan”). With this approval in place, the Company expects to emerge from Chapter 11 p...

NEW YORK--(BUSINESS WIRE)--Certain bondholders of the Puerto Rico Electric Power Authority (“PREPA”) today issued the following statement: As the tenth year of the Puerto Rico Electric Power Authority (“PREPA”) bankruptcy commences, five points remain clear: (1) the Financial Oversight and Management Board (“FOMB”) continues to pursue an approach that does not account for the legal rights of PREPA’s bondholders or the overwhelming evidence that repayment can be achieved with fair and reasonable...

NEWTON, Mass.--(BUSINESS WIRE)--Office Properties Income Trust (“OPI” or the “Company”) today announced that it has successfully completed its financial restructuring and has emerged from Chapter 11. OPI achieved its objectives to strengthen its balance sheet, reduce debt, and position the Company for long-term operational stability. Pursuant to OPI’s Chapter 11 Plan of Reorganization confirmed by the U.S. Bankruptcy Court for the Southern District of Texas on April 22, 2026, OPI entered into t...

WAYNE, Pa.--(BUSINESS WIRE)--Trinseo PLC (the “Company” or “Trinseo”) (OTCM: TSEOF), a specialty material solutions provider, has today taken the next step to implement the pre-packaged restructuring plan described in the previously announced Restructuring Support Agreement (“RSA”) with parties that hold a significant majority of its debt. The transactions contemplated under the RSA will reduce Trinseo’s debt by approximately $2.0 billion and reduce its annual interest expense by approximately...

MIAMI & INDIANAPOLIS--(BUSINESS WIRE)--GXD Labs and EquitiesFirst Announce Resolution of Claims Relating to Celsius Bankruptcy Estate...

WILMINGTON, Del.--(BUSINESS WIRE)--The LYCRA Company completes financial restructuring, emerges from Chapter 11 with reduced debt and new capital to drive innovation and global growth....