 | | Featured Premium Content | | | | | [CONTENT PROVIDER]: Debtwire: Conair, Harbor Freight Tools, Michaels Top Debtwire Tariff Watch List
Debtwire spoke to several market participants across investors and advisors to identify some of the companies most exposed to the tariffs rolled out since Trump’s 2 April “Liberation Day” announcement and other firms less at risk. READ MORE | | | | | SPONSORED CONTENTPrivate Credit and BSLs: Friends or Foes? With private credit and broadly syndicated loans (BSLs) competing for dominance, the lending landscape is in flux. But can these markets ultimately work hand in hand? SRS Acquiom, in partnership with Debtwire, surveyed 200 senior executives from alternative asset management firms across Europe and the U.S. to uncover the true dynamics of these two critical markets. Download the Report | | |  | | Editor's Picks | | | | | The Most Shorted U.S. Stock Is This Indebted Chip Supplier
U.S. efforts to reshore chip production should be a boon for a manufacturer like Wolfspeed. Its debt-burdened balance sheet may hinder it from taking advantage, WSJ Pro Bankruptcy reported. The company’s finances have clouded its path forward, which depends on securing $750 million in taxpayer support it was pledged in the waning months of the Biden administration. Some investors doubt that Wolfspeed will actually secure that federal backing, which requires the company to address a $575 million balloon payment due to its convertible noteholders next year. READ MORE | | Forever 21 Vendors Scorn Retailer’s Bankruptcy
A number of vendors are alleging that Forever 21’s U.S. operator asked for discounts on orders and took delivery of shipments shortly before filing for bankruptcy, without disclosing their plan to reorganize. A group of unsecured creditors, all of whom have $433 million of claims against the operator, have alleged in court filings that these suppliers should have been entitled to full payment under the Bankruptcy Code. READ MORE | | Homer Senior Center Board Seeks to Declare Bankruptcy
Homer Senior Citizens Inc. board members at an April 16 meeting voted unanimously to pursue chapter 11 bankruptcy, which would allow the nonprofit senior services organization to restructure its debt while continuing to operate, the Homer (Alaska) News reported. The move comes after the IRS last week levied funds from the senior center’s bank account to recoup unpaid payroll taxes. READ MORE
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June 17 | New York, N.Y. | | | | | | |  | | Daily Roundup | | | | | Kentucky Farmers Hit by One-Two Punch of Trade War, Historic Floods
The one-two punch of historic floods amid a damaging trade war comes at a challenging moment for farmers in Kentucky, where planting delays are costing them precious time in a year when low prices leave them little margin for error as they struggle to remain profitable, Reuters reported. Farmers across the country are facing similar dilemmas as planting is under way and growers face last-minute decisions about what to plant as global agricultural markets have been upended by tariffs and trade uncertainty. READ MORE | | U.S. Business Activity Moderates in April; Firms Demand Higher Prices for Their Products
U.S. business activity slowed to a 16-month low in April and prices charged for goods and services soared amid uncertainty caused by tariffs, Reuters reported. Businesses were also reluctant to hire, which S&P Global said was blamed on "concerns over the economic outlook and demand environments both at home and in export markets, with rising cost concerns and labor availability." Confidence about business conditions over the next 12 months also deteriorated. READ MORE | | Suburban Chicago Police Officer Charged With Covid-Relief Fraud
A suburban Chicago police officer has been indicted for allegedly fraudulently obtaining Covid-relief loans and concealing the proceeds in his bankruptcy case, according to a DOJ press release. An indictment returned on Monday in U.S. District Court in Chicago charges William Reed of Hazel Crest, Ill., with making false statements in U.S. Small Business Administration loan applications, bankruptcy fraud, and tax offenses. Arraignment in federal court has not yet been scheduled. READ MORE | | | | |
