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Top related persons:
” - 1 Mike Simoncic - 1 Simoncic - 1 Chris Wells - 1 Brendan McDermid - 1 WeWork - 1 Hilco - 1 Alvarez - 1
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Search resuls for: "Hilco Global"


6 mentions found


☆ 99 Cents Only Stores is winding down its business operations
  + stars: | 2024-04-04 | by ( Ramishah Maruf | ) edition.cnn.com   time to read: +1 min
New York CNN —99 Cents Only Stores — a discount chain in California, Texas, Arizona and Nevada — is winding down its business operations, according to a press release from the company on Thursday. “This was an extremely difficult decision and is not the outcome we expected or hoped to achieve,” said Mike Simoncic, interim chief executive officer of 99 Cents, in the release. It will also work with the firm to get rid of fixtures, furnishings and equipment at its 371 stores. Simoncic will step down from his role, the company said, and Chris Wells will serve as chief restructuring officer. Bloomberg reported last week that 99 Cents was considering a bankruptcy filing.
Persons: ”, Mike Simoncic, Simoncic, Chris Wells Organizations: New, New York CNN, Global, Bloomberg Locations: New York, California , Texas, Arizona, Nevada, West
☆ WeWork tapping advisers for restructuring help - Bloomberg News
  + stars: | 2023-08-23 | by ( ) www.reuters.com   time to read: +1 min
The WeWork logo is displayed on a screen during the company's IPO on the floor of the New York Stock Exchange (NYSE) in New York City, U.S., October 21, 2021. REUTERS/Brendan McDermid/File Photo Acquire Licensing RightsAug 23 (Reuters) - WeWork (WE.N) is tapping advisers for restructuring advice as it struggles with a heavy debt load and poor financial performance, Bloomberg News reported on Wednesday citing people familiar with the matter. Shares of the Softbank Group-backed (9984.T) WeWork fell about 15% to 0.12 cents in afternoon trade. The New York Stock Exchange (NYSE) suspended trading in WeWork's warrants on Tuesday due to "abnormally low" trading price levels and said will initiate proceedings to delist them. WeWork, Hilco Global, Alvarez & Marsal and Kirkland & Ellis did not immediately respond to Reuters' requests for comment.
Persons: Brendan McDermid, WeWork, Hilco, Alvarez, Kirkland, Ellis, Kannaki, Krishna Chandra Organizations: New York Stock Exchange, REUTERS, Bloomberg, Softbank, Marsal, Hilco Global, Kirkland, Thomson, & & ' Locations: New York City, U.S, Bengaluru
☆ Bed Bath & Beyond files for bankruptcy protection
  + stars: | 2023-04-23 | by ( Gabrielle Fonrouge | ) www.cnbc.com   time to read: +5 min
Bed Bath & Beyond on Sunday filed for Chapter 11 bankruptcy protection after a series of last-ditch efforts to raise enough equity to keep the business alive failed at the eleventh hour. Bed Bath has been hanging on by a thread ever since but has refused to go down without a fight. Days after the second stock offering was announced, Bed Bath said it had partnered with liquidator Hilco Global to boost its inventory levels. Soon, though, Bed Bath revealed in a securities filing that it didn't have enough cash to pay its debts and had defaulted on its credit line with JPMorgan. Under the reduced credit agreements, Bed Bath was on the hook for monthly interest payments.
☆ Bed Bath & Beyond proposes reverse stock split as it struggles to avoid bankruptcy
  + stars: | 2023-04-06 | by ( Gabrielle Fonrouge | ) www.cnbc.com   time to read: +3 min
Bed Bath & Beyond wants shareholders to approve a reverse stock split at an upcoming special meeting, as the retailer keeps working to avoid filing for bankruptcy, according to a securities filing late Wednesday. "The Company may be unable to avoid bankruptcy if the Reverse Split Proposal fails to obtain shareholder approval. The beleaguered retailer said the reverse stock split would be at a ratio, to be determined by the board, in the range of 1-for-10 to 1-for-20. The reverse split could also boost Bed Bath's per-share price, which the company expects could improve perception of its stock and attract more investors. Still, even if the reverse split temporarily boosts Bed Bath's share price, the stock offering will eventually dilute it, which happened after the company announced another stock offering in February.
☆ Bed Bath & Beyond gets $120 million merchandise lifeline as it faces bankruptcy threat
  + stars: | 2023-04-05 | by ( Gabrielle Fonrouge | ) www.cnbc.com   time to read: +3 min
Bed Bath & Beyond announced Wednesday it is working with Hilco Global to get merchandise back on its shelves in the company's latest effort to stay alive and avoid bankruptcy. Last week, the company reported preliminary results for its fiscal fourth quarter. The company noted negative operating losses have continued, although it noted it hasn't depleted its free cash flow. The company reported $2.05 billion in revenue for the fiscal fourth quarter of 2021. On March 30, Bed Bath announced another stock offering of $300 million and warned it would likely need to file for bankruptcy protection if it doesn't work out.
☆ Stocks making the biggest moves midday: Nvidia, Palantir, Western Alliance, Johnson & Johnson and more
  + stars: | 2023-04-05 | by ( Samantha Subin | ) www.cnbc.com   time to read: +4 min
The Western Alliance Bancorporation logo is seen in this photo illustration on 13 March, 2023 in Warsaw, Poland. This development would give U.S. government customers and industry partners access to enterprise-grade capabilities by Palantir and Microsoft. Western Alliance also said it has enough liquidity to cover the remaining uninsured deposits. Johnson & Johnson — Shares rose about 3%. Conagra Brands — The packaged goods food company rose 3% after topping Wall Street's expectations on the top and bottom lines for the recent quarter, according to FactSet.
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