 | | Featured Premium Content | | | | | BankruptcyData: 4Q24 Business Development Company (BDC) Report Part II
The second part of BankruptcyData's 4Q24 BDC filings includes reports from Prospect Capital Corporation (PSEC), PennantPark Investment Corp. (PNNT), Golub Capital Direct Lending Corp. (GOCADI), Gladstone Capital Corporation (GLAD), and Oaktree Strategic Credit Fund (OAKSCF), among others. These filings highlight continued credit deterioration, distressed restructurings, and realized losses across multiple industries including the likely pending bankruptcy of Aventiv Technologies following a prior debt exchange. READ MORE | | | | | SPONSORED CONTENTThe Pervasive Repricing Wave of 2024 Will Likely Continue Into 2025What role will investors play? What is the impact on lenders? Will declining interest rates end the trend? SRS Acquiom explores the dynamics driving the wave of repricings and equips you with the insights you need to determine whether a repricing strategy is right for your loan. DOWNLOAD THE INSIGHTS | | |  | | Editor's Picks | | | | | Joann to Close All Stores Following Second Bankruptcy
Bankrupt sewing and yarn supply retailer Joann is closing its stores after more than 80 years in business, WSJ Pro Bankruptcy reported. The Hudson, Ohio-based company said that it would sell itself in a liquidation bid after no buyers emerged to run its operations as a going concern. The company’s loan agent and retail advisory firm GA Group teamed up on the winning bid, court records show. Joann said it would conduct going-out-of-business sales at all of its 831 locations and online once it receives court approval for the sale. READ MORE | | Body Details Shuts Down Amid Bankruptcy
Customers of Body Details, a laser treatment center, are being met with locked doors and unanswered calls as the company has officially filed for chapter 7 bankruptcy, WPTV.com reported. Court documents reveal that Body Details originally filed for chapter 11 bankruptcy last July, which would have allowed them to reorganize their debts while continuing operations. However, in December, the case was converted to a chapter 7 bankruptcy, ceasing operations and liquidating its assets.liquidated. READ MORE | | Robinhood Says SEC Has Closed Its Investigation into the Company
Lawsuits filed against cryptocurrency platforms during President Joe Biden's administration continue to fall away as the administration of President Donald Trump has projected a much more lenient stance on cryptocurrency markets, Reuters reported. Robinhood is just the latest company in the mix, announcing on Monday that the Securities and Exchange Commission has closed its investigation into the company and will not pursue an enforcement action. READ MORE
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March 26-28 | Newport Beach, Calif. | | | | |  | | Daily Roundup | | | | | DOGE Move to Slash Federal Leases Threatens Office-Market Recovery
The Trump administration’s move to terminate millions of square feet of federal leases and sell government buildings threatens to weaken a fledgling recovery in the U.S. office market, from California to Washington, D.C., the Wall Street Journal reported. Elon Musk’s Department of Government Efficiency has targeted nearly 100 leases at government agency offices for termination or consolidation. The Trump administration is also considering selling two-thirds of the federally owned office buildings that are empty or underused. (Subscription required.) READ MORE | | Blüm Holdings Reaches Global Settlement With People’s California
Blüm Holdings Inc., a California-based publicly traded holding company and cannabis operator, announced that it has reached a global settlement with People’s California LLC, extinguishing more than 2 1/2 years of litigation brought by People’s California against Blüm Holdings and its wholly owned subsidiaries (and now debtors-in-possession in chapter 11 bankruptcy proceedings), Unrivaled Brands Inc. and Halladay Holding LLC, according to a company press release. READ MORE | | U.S. Court Upholds Theranos Founder Elizabeth Holmes' Conviction
A U.S. court upheld the convictions of Theranos' founder Elizabeth Holmes and President Ramesh "Sunny" Balwani on Monday, on charges of defrauding investors in the failed blood testing startup once valued at $9 billion, Reuters reported. A three-judge panel for the 9th U.S. Circuit Court of Appeals in San Francisco rejected claims of legal errors at their separate trials held in 2022. READ MORE | | Trump Says Tariffs on Mexico, Canada ‘Going Forward’ Next Month
President Donald Trump said he expected tariffs planned to take effect on Canada and Mexico to go ahead next month following an initial delay to allow the countries more time to address his concerns over border security, Bloomberg News reported. “The tariffs are going forward on time, on schedule,” Trump said Monday from the White House during a joint press conference with French President Emmanuel Macron. Trump was asked if the tariffs, which he delayed until March 4, would go into effect. Canada and Mexico have implemented new border measures in an effort to stave off the tariffs, which Trump says he is levying in a bid to halt flows of undocumented migrants and illegal drugs such as fentanyl. READ MORE | | Analysis: The U.S. Economy Depends More Than Ever on Rich People
The top 10% of earners—households making about $250,000 a year or more—are splurging on everything from vacations to designer handbags, buoyed by big gains in stocks, real estate and other assets, the Wall Street Journal reported. Those consumers now account for 49.7% of all spending, a record in data going back to 1989, according to an analysis by Moody’s Analytics. Three decades ago, they accounted for about 36%. (Subscription required.) READ MORE | | | | |
