Alberta, Canada.Steps needed to weather the oil downturn. In the US, some claim that oil-related job loss is bottoming.
Coal. Restructuring professionals have made millions in Arch Coal, Alpha Natural Resources, and Peabody Energy. But there's real pain out there in coal country - pain that Trump has promised to assuage by bringing back jobs. With that in mind, "Blood on the Mountain" looks like required viewing. This preview is compelling: we urge you to watch it. Even if others are more realistic about those job prospects.
Fast Forward: Nuverra discloses restructuring talks, UCI International DS approved and marching towards confirmation, Stone Energy launches solicitation and filing in early December, JCrew hires Lazard, Homer City forbearance extended to 11/21, Paragon Offshore back to drawing board with cram-up attempt thwarted, Energy XXI announces PSA.
Rewind I: An in-depth discussion of the Nasty Galcollapse.
Rewind II: Steinway Musical Instruments. Is apparently not a restructuring target yet. The company received an equity cure from Paulson & Co., pushing any potential restructuring activity deeper into 2017. 4th Quarter sales will be critical to avoid covenant pressure in '17.
In Australia, alternative capital providers like Oaktree and Bain Capital Creditlook to replace banks pulling back from risky lending amidst the increasingly distressed commodities bust.
Last week, we discussed Chicago's stress and efforts there to stem the tide. Here is a more technical look at Chicago's options and whether it can even go the Detroit route.
Here is an interesting list of the worst corporate M&A flops, some of which are familiar to restructuring professionals, e.g., KMart/Sears.
Number of new pianos sold in the US is down nearly 1/3 since 2005, a fact that may force Paulson & Co. to navigate loan defaults for portfolio company, Steinway Musical Instruments.
As predicted last week, Relativity Media inches closer to a Chapter 7 liquidation mere months after emerging from Chapter 11.
On the heels of Cosi and Garden Fresh both filing for chapter 11 recently and grocers like A&P, Haggen, and Fresh&Easy having already filed, food is filling the docket more than our stomachs these days. Along these lines, the news that Amazon is now pursuing fresh groceries has raised eyebrows and called into question, generally, the "Amazon effect":
