 | | Featured Premium Content | | | | | WSJ Pro Bankruptcy: WeightWatchers Prepares for Bankruptcy
WW International, the health and wellness company known as WeightWatchers, is preparing to file for bankruptcy in the coming months as part of a plan to hand control of the business to its creditors, WSJ Pro Bankruptcy reported. The company, which faces financial pressure and disruption from the rise of weight-loss drugs like Ozempic, is still negotiating with a key group of lenders and bondholders. While WeightWatchers would prefer to restructure its balance sheet out of court, a chapter 11 process is more realistic because the company is publicly traded. READ MORE | | | | | SPONSORED CONTENTPredatory Uptiering: Three Steps to Protect Against Being Primed While uptiering disputes are not new, the loan market has seen an uptick in recent years. If not careful, lenders can lose their lien claim positions to a newer, senior lender. SRS Acquiom explains the primary mechanisms of predatory uptiering and identifies steps lenders can take to protect against it—all in one easy-to-reference page. GET THE INSIGHTS | | |  | | Editor's Picks | | | | | Retailer At Home in Talks to Potentially Hand Control to Lenders
At Home Group Inc. is discussing a debt-restructuring proposal with some of its lenders that could potentially hand control of the troubled retailer to creditors, Bloomberg News reported. Multiple options are being considered and no final decision has been made. The home-decor retailer has been struggling to raise a loan to bolster its cash reserves, with President Donald Trump’s sweeping tariffs creating uncertainty around its liquidity and turnaround efforts, Bloomberg reported last week. READ MORE | | Sweepstakes Company Publishers Clearing House Files for Bankruptcy
Publishers Clearing House, a direct-to-consumer marketing company known for its Prize Patrol sweepstakes, filed for bankruptcy Wednesday to restructure its balance sheet and shed costs from legacy direct mail and e-commerce businesses, WSJ Pro Bankruptcy reported. Chief Executive Andy Goldberg said the company’s world-renowned sweepstakes “will continue to be a cornerstone of our experiences, and we intend to continue offering free-to-play entertainment and awarding prizes in the ordinary course of business.” PCH sweepstakes continue to attract millions of contestants, allowing PCH to earn revenue by selling digital advertising through its web and app-based platforms, it said in court papers filed with the U.S. Bankruptcy Court in New York. READ MORE | | Popular Ice Cream Maker Sells Assets Thanks to Bankruptcy
The maker of a massively popular ice cream sold by major brands has auctioned off its assets due to bankruptcy, PennLive.com reported. The company filed for bankruptcy last year right after struggling with a possible Listeria monocytogenes contamination in their products. Totally Cool Inc. — which manufactured ice cream for such well-known names as Friendly’s, ChipWich and Hershey’s Ice Cream — filed for chapter 11 protection on Aug. 23, 2024. READ MORE
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June 11-13 | Park City, Utah | | | | |  | | Daily Roundup | | | | | House Strikes Down $5 Overdraft Fee Limit, Sending Issue to Trump
The House of Representatives on Wednesday approved resolutions striking down a $5 cap on most bank overdraft fees and overturning a rule that would have given a federal regulator greater oversight powers over payment apps run by large technology companies, the New York Times reported. The overdraft fee limit was struck down 217 to 211, with Representative Ryan Mackenzie of Pennsylvania the lone Republican to join the Democrats’ dissent. The rule granting the government supervision over technology companies’ payment apps was overturned 219 to 211, with Republicans voting to eliminate the rule and Democrats united in opposition. READ MORE | | Trump Says He Will Pause Tariff Hikes for 90 Days, But Not for China
President Trump abruptly announced on Wednesday that he would pause big hikes on tariffs for most countries for 90 days, except for China, NPR.org reported. Most countries will be left with 10% tariffs on their exports to the United States, while China — which had retaliated against Trump's moves — will now face tariffs of 125%. READ MORE | | U.S. Weighs Farmer Bailout as China Threatens Retaliation
Agriculture Secretary Brooke Rollins said that the administration is considering plans to offer assistance to farmers amid worries that the US-China trade war will have a disastrous effect on American agricultural producers, Bloomberg News reported. China announced plans to increase tariffs on all American goods to 84% after President Donald Trump raised duties on Chinese imports to 104%. During a smaller trade fight with Beijing during Trump’s first term, his administration used the Commodity Credit Corporation to offer $28 billion to bail out US farmers. The government-owned and operated entity was created to boost farm income and prices. READ MORE | | Green Building Material Maker TimberHP Files Chapter 11 to Reorganize
TimberHP, part of a Belfast, -based family of ecological building companies, has filed a voluntary, pre-negotiated chapter 11 reorganization plan with the support of its stakeholders, the Midcoast Villager reported. The company, part of GO Lab Inc., spun out of the award-winning green home builder GO Logic, operates in a former paper mill in Madison and is North America’s sole manufacturer of wood fiber insulation. READ MORE | | | | |
