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☆ Surprise Medical Billing Law Heaps Pressure on Healthcare Providers
▼ + stars: | 2023-11-28 | by ( Soma Biswas | Becky Yerak | ) www.wsj.com time to read: 1 min

The No Surprises Act is causing lengthy billing disputes with health insurers and reimbursement delays, according to some healthcare companies that are under increased financial pressure. Photo: Getty Images/iStockphotoA law designed to protect patients from surprise medical bills is contributing to the financial distress of some medical-service providers, which say lengthy billing disputes and payment delays with insurers are hurting their ability to stay afloat. The No Surprises Act, which took effect last year, aims to protect patients from surprise medical bills from out-of-network healthcare providers when there are disagreements over reimbursements between insurers and providers. Previously, providers often billed patients to make up for the amounts insurers were unwilling to pay.

☆ Amazon Aggregator Thrasio Engages Restructuring Advisers
▼ + stars: | 2023-09-27 | by ( Alexander Gladstone | Soma Biswas | ) www.wsj.com time to read: 1 min

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Persons: Dow Jones, ed1f0450

☆ Hedge Fund MFN Pushes for Equity Voice in Yellow’s Bankruptcy
▼ + stars: | 2023-08-29 | by ( Soma Biswas | ) www.wsj.com time to read: 1 min

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Persons: Dow Jones, 78455b9f

☆ Bankrupt Trucker Yellow Taps Estes Express for $1.3 Billion Real-Estate Sale
▼ + stars: | 2023-08-17 | by ( Soma Biswas | ) www.wsj.com time to read: 1 min

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Persons: Dow Jones

☆ Apollo-Led Lenders Sell Yellow Loan to Citadel
▼ + stars: | 2023-08-16 | by ( Soma Biswas | Paul Page | ) www.wsj.com time to read: 1 min

This copy is for your personal, non-commercial use only. Distribution and use of this material are governed by our Subscriber Agreement and by copyright law. For non-personal use or to order multiple copies, please contact Dow Jones Reprints at 1-800-843-0008 or visit www.djreprints.com. https://www.wsj.com/articles/apollo-led-lenders-sell-yellow-loan-to-citadel-817a5f32

Persons: Dow Jones

☆ Yellow Expects to Pay Back Private, Government Loans in Bankruptcy
▼ + stars: | 2023-08-09 | by ( Soma Biswas | Paul Page | ) www.wsj.com time to read: 1 min

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Persons: Dow Jones, 4a3123ff

☆ Trucker Yellow Files for Bankruptcy, Will Liquidate
▼ + stars: | 2023-08-07 | by ( Paul Page | Soma Biswas | ) www.wsj.com time to read: 1 min

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Persons: Dow Jones

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Organizations: Wall Street

This copy is for your personal, non-commercial use only. Distribution and use of this material are governed by our Subscriber Agreement and by copyright law. For non-personal use or to order multiple copies, please contact Dow Jones Reprints at 1-800-843-0008 or visit www.djreprints.com. https://www.wsj.com/articles/trucker-yellow-prepares-to-file-for-bankruptcy-as-customers-flee-281151a6

Persons: Dow Jones, 281151a6

☆ Celsius Network Reaches Key Settlements to Resolve Litigation
▼ + stars: | 2023-07-21 | by ( Soma Biswas | ) www.wsj.com time to read: 1 min

Organizations: Wall Street

☆ Wheels Up’s Jumbo Challenge: Post-Covid Turbulence
▼ + stars: | 2023-06-22 | by ( Soma Biswas | Mark Maurer | ) www.wsj.com time to read: 1 min

Wheels Up Experience, an upstart in the membership-driven private jet industry, is retooling its business model to try to survive the post-Covid era and avoid the bankruptcy filings that have plagued other pandemic darlings. Air travelers flocked to Wheels Up after the pandemic’s onset, helping the company go public in a mid-2021 merger with a special-purpose acquisition company. Since then, its stock price has dwindled from a $110 high to a fraction of that amid widening losses and the unexpected departure in May of founder...

☆ Bed Bath & Beyond in Talks to Sell Buybuy Baby to Owner of Janie and Jack
▼ + stars: | 2023-06-05 | by ( Soma Biswas | Suzanne Kapner | ) www.wsj.com time to read: 1 min

Organizations: Wall Street

☆ KKR-Backed Envision Healthcare Files for Chapter 11 to Put Lenders in Control
▼ + stars: | 2023-05-15 | by ( Alexander Saeedy | Soma Biswas | ) www.wsj.com time to read: 1 min

Envision Healthcare has filed for chapter 11, beginning one of the largest healthcare-related bankruptcy cases ever and likely wiping out the $3.5 billion stake that private-equity firm KKR acquired in the physician-staffing company in 2018. KKR’s loss on Envision would be among the steepest write-downs the private-equity firm has swallowed in recent years and highlights some of the continuing instability in the healthcare industry. KKR has already written off its investment in Envision, The Wall Street Journal reported previously.

☆ Bed Bath & Beyond Preparing for Bankruptcy Filing Within Days
▼ + stars: | 2023-04-19 | by ( Soma Biswas | Alexander Gladstone | ) www.wsj.com time to read: 1 min

Bed Bath & Beyond Inc. is preparing a bankruptcy filing for as early as this weekend as its falling stock price makes it near impossible to raise enough capital to avert default, according to people familiar with the matter. The embattled retailer recently said it needed to raise $300 million from share sales by April 26 to stay out of chapter 11. The company will have to stop selling stock by that date, when it would lose eligibility to continue under its share registration documents. Given the stock’s closing price on Wednesday of 46 cents, Bed Bath & Beyond faces long odds to raise that amount of money within that time.

☆ Bed Bath & Beyond Says It Raised More Money From Equity Deal Reached in February
▼ + stars: | 2023-03-08 | by ( Soma Biswas | ) www.wsj.com time to read: 1 min

Home goods retailer Bed Bath & Beyond Inc. said it raised an additional $135 million from a public equity offering announced in February. The latest capital raise is part of the equity offering the Union, N.J.-based company unveiled last month, which helped pull it back from the brink of bankruptcy. As of Tuesday, the retailer had raised a total of $360 million from the equity offering, including the initial $225 million it received in February, the company said.

☆ Binance.US Cleared to Buy Voyager Accounts Despite SEC Warning
▼ + stars: | 2023-03-07 | by ( Soma Biswas | ) www.wsj.com time to read: 1 min

Binance’s American affiliate won court approval to take over thousands of customer accounts from bankrupt crypto platform Voyager Digital Ltd. despite warnings that the Binance.US exchange faces possible regulatory action. Judge Michael Wiles of the U.S. Bankruptcy Court in New York approved the companies’ deal, undeterred by the revelation last Friday that Securities and Exchange Commission staff have determined that Binance.US, the American affiliate of the world’s largest crypto exchange, is operating an unregistered securities exchange.

Bed Bath & Beyond’s storied brand and the passionate interest of individual investors helped the retailer secure a lifeline. Sue Gove wanted to keep Bed Bath & Beyond Inc. out of bankruptcy. Few believed it was possible. Alarmed by the retailer’s deteriorating finances, banks in January had cut off their credit lines and pushed for the company to start a liquidation, including selling off inventory, to repay their loans, said people familiar with the matter.

☆ Bed Bath & Beyond’s Tough Challenge: Shutting Stores Without Paying a Fortune
▼ + stars: | 2023-02-13 | by ( Soma Biswas | Kate King | ) www.wsj.com time to read: 1 min

Bed Bath & Beyond Inc. could face tough negotiations with landlords and pay a high price to close out leases on hundreds of stores as the retailer attempts to downsize without the protection of bankruptcy. A last-minute equity financing of up to $1 billion provided the company enough capital to pay down bank loans, which Bed Bath defaulted last month. But staying out of chapter 11 also means it loses negotiating leverage it would otherwise have in bankruptcy.

☆ Bed Bath & Beyond to Shut Down Canadian Stores in Bankruptcy
▼ + stars: | 2023-02-10 | by ( Soma Biswas | Alexander Gladstone | ) www.wsj.com time to read: 1 min

Bed Bath & Beyond Inc.’s Canadian division will shut down its stores under court protection after the company received an unusual lifeline earlier this week to save its U.S. operations from bankruptcy. The troubled retailer filed its Canadian division for protection under the Companies’ Creditors Arrangement Act, Canada’s rough equivalent of chapter 11 bankruptcy. Bed Bath & Beyond has “reluctantly concluded” that even with the lifeline of its recent equity raise, there isn’t enough capital available both to restructure its U.S. business and bring the Canadian business to profitability, the company said in filings with an Ontario court.

Bed Bath & Beyond Inc. has secured investor backing for a more than $1 billion capital raise to stave off bankruptcy and try to turn around its flagging business, people familiar with the matter said. The offering of convertible stock and warrants, coupled with a $100 million additional credit line from one of its lenders, is expected to save the troubled retailer from the near-term chapter 11 filing it has warned about for weeks. Bed Bath & Beyond has received investor commitments to raise $225 million of equity capital initially and the rest of the more than $1 billion offering over time, according to people familiar with the matter.

Bed Bath & Beyond Inc. will try to raise more than $1 billion by selling stock, hoping investors who have propelled its stock higher despite its financial troubles can save it from bankruptcy. The offering of stock and warrants, coupled with a $100 million additional credit line from one of its lenders, could help the troubled retailer raise enough cash to avoid the chapter 11 filing it has warned about for weeks. Bed Bath said Monday that it can’t give any assurances it will receive any or all of the proceeds of the equity offering, which is subject to market conditions and not guaranteed to be completed.

☆ Bed Bath & Beyond Misses Interest Payments as It Weighs Chapter 11
▼ + stars: | 2023-02-01 | by ( Soma Biswas | ) www.wsj.com time to read: 1 min

☆ Bed Bath & Beyond Misses Interest Payments Ahead of Possible Chapter 11
▼ + stars: | 2023-02-01 | by ( Soma Biswas | ) www.wsj.com time to read: 1 min

Bed Bath & Beyond Inc. said Friday it was closing an additional 87 of its flagship stores and its entire Harmon chain of drugstores, as the retailer struggles to find financial support to keep its operations funded. The latest closings are in addition to a plan announced in August to shut 150 lower-performing Bed Bath & Beyond locations, a spokeswoman said. The company said Friday it is also closing five of its Buybuy Baby stores. The company had about 50 Harmon stores as of February 2022.

Bed Bath & Beyond Inc.’s path to restructure its business in bankruptcy is narrowing, as the home-goods retailer struggles to find financial support to keep its operations funded and avoid liquidation, people familiar with the matter said. The company, which is expected to file for bankruptcy soon, faces limited options to reorganize as a going concern, these people said: Its lenders have cut off credit, it hasn’t secured a buyer to acquire its business, it is struggling to raise financing to survive chapter 11 even in shrunken form and many vendors have stopped shipping goods to the retailer. Discussions are continuing and a financing deal could still materialize, these people said.

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