Streetbeat News

Bankruptcy

BIG

Big Lots shares are declining following reports that the company is contemplating filing for bankruptcy.

Portfolio Pulse from Benzinga Newsdesk

August 28, 2024 | 8:47 pm

BIG

Big Lots is reportedly considering filing for bankruptcy due to a slump in sales, as reported by Bloomberg.

Portfolio Pulse from Benzinga Newsdesk

August 28, 2024 | 8:46 pm

HITI

Canada's legal cannabis industry is facing a decline in sales and increased bankruptcy filings, attributed to federal government inaction. Omar Khan of High Tide Inc. criticizes the government's lack of engagement, while provinces like Ontario and Alberta take steps to boost legal cannabis accessibility. The federal-provincial disconnect and falling flower prices are contributing to the industry's struggles.

Portfolio Pulse from Patricio Liddle

August 28, 2024 | 12:57 am

PRTG

Portage Biotech is exploring strategic alternatives, which may include a sale, merger, restructuring, or winding down the company.

Portfolio Pulse from Benzinga Newsdesk

August 27, 2024 | 12:12 pm

JNJ

Johnson & Johnson is negotiating with plaintiffs to finalize a $6.5 billion settlement over claims that its talc products cause cancer. The company is seeking to resolve holdouts and may use a subsidiary's bankruptcy to facilitate the settlement. Over 62,000 plaintiffs are involved, and J&J has already paid $5 billion in related claims.

Portfolio Pulse from Vandana Singh

August 26, 2024 | 3:06 pm

LQDT

Liquidity Services and Tiger Group are conducting a fifth court-ordered auction related to the bankruptcy of El Dorado Gas & Oil. This involves over 230 energy assets available on AllSurplus.com until August 28, 2024. Liquidity Services shares have seen an upward movement.

Portfolio Pulse from Benzinga Newsdesk

August 23, 2024 | 8:28 pm

NUVO

Holdco Nuvo Group D.G Ltd. and its subsidiaries have filed for Chapter 11 bankruptcy in Delaware. They plan to continue operations as debtors in possession during the bankruptcy process.

Portfolio Pulse from Benzinga Newsdesk

August 22, 2024 | 5:27 pm

BTCUSD

FTX, a cryptocurrency trading platform that filed for bankruptcy in November 2022, has received preliminary approval for its reorganization plan from creditors, with over 95% support. This development follows a tumultuous period involving legal challenges and asset recovery efforts.

Portfolio Pulse from Benzinga Neuro

August 22, 2024 | 10:46 am

CMAX

CareMax has drawn $3 million under its credit facility to cover short-term operating expenses. The company is exploring cost reductions, refinancing, and strategic alternatives to avoid Chapter 11 bankruptcy, as per an SEC filing.

Portfolio Pulse from Benzinga Newsdesk

August 21, 2024 | 1:20 pm

LTTSF

Lotus Ventures Inc. has completed a sale of its shares to 5008679 Ontario Limited, resulting in the delisting from the CSE and OTC Markets. The company faced financial difficulties, including a significant revenue drop and a net loss in 2022.

Portfolio Pulse from Nina Zdinjak

August 20, 2024 | 7:50 pm