 | | Featured Premium Content | | | | | May Commercial Chapter 11 Filings Increase 62 Percent over Last Month
Commercial chapter 11 filings totaled 733 in May, an increase of 62 percent over the 453 filings in April, according to data provided by Epiq AACER, the leading provider of U.S. bankruptcy filing data. The overall May commercial filing total of 2,695 represented an 8 percent increase from the April 2025 commercial filing total of 2,489. Small business filings, captured as subchapter V elections within chapter 11, increased 3 percent to 228 in May 2025 from 223 the previous month. READ MORE | | |  | | Editor's Picks | | | | | Nearly 80 Big Lots Stores Reopen This Week Across Multiple States
A total of 78 locations across nine states will resume operations on Thursday as Variety Wholesalers completes its fourth "wave" of reopening Big Lots stores that the company bought following the discount retailer’s recent bankruptcy, FoxBusiness.com reported. The Big Lots stores reopening this week are located throughout Florida, Georgia, Kentucky, North Carolina, Ohio, Pennsylvania, South Carolina, Tennessee and Virginia, Variety Wholesalers said. READ MORE | | Sunnova Unit Files for Bankruptcy in Texas as Troubles Mount
A subsidiary of Sunnova Energy International Inc. filed for bankruptcy in Texas as its parent struggled to convince creditors to give it funding to turn around its business in an out-of-court process, Bloomberg Law reported. Houston-based Sunnova TEP Developer LLC sought chapter 11 protection on June 1, documents in the U.S. Bankruptcy Court for the Southern District of Texas show. The company listed assets of $100 million to $500 million and liabilities in the same range in its petition. (Subscription required.) READ MORE | | Fitch: Low First-Lien Recoveries Continue for U.S. Retail Bankruptcies
First-lien lenders in several recent U.S. retail bankruptcies have continued to see below-average recoveries as ongoing challenges and shifting consumer habits have continued to weigh on the sector, according to a new report from Fitch Ratings. From 2016 to 2024, first-lien recoveries for retail companies with at least $100 million in debt at the time of chapter 11 averaged 52% on a par-weighted basis. READ MORE
MORE NEWS BELOW | | | | |  | | Upcoming Events | | | | | ABI New York City Bankruptcy Conference New York Hilton Midtown
June 17 | New York, N.Y. | | ABI Central States Bankruptcy Workshop The Ritz-Carlton, Chicago
June 18-20 | Chicago, Ill. | | | | | | |  | | Daily Roundup | | | | | Supreme Court Seeks DOJ View on Hertz Bondholder Case
The Supreme Court invited a brief from the Justice Department for advice on a Hertz Global Holdings Inc. case about a roughly $320 million payment that the rental car firm may owe to bondholders, Bloomberg News reported. Hertz has been seeking a Supreme Court review of a federal appeals court decision that bondholders from the company’s 2020 bankruptcy are owed make-whole premiums and interest related to the case. The court on Monday issued an order requesting the views of Solicitor General D. John Sauer, the Trump administration’s top Supreme Court lawyer. (Subscription required.) READ MORE | | More Americans Using of 'BNPL' to Groceries, Utilities and More
Nearly a quarter of consumers using buy now, pay later loans (BNPL) finance groceries, up from 14 percent a year ago, according to a recent LendingTree survey. And it’s not just groceries; more Americans are using these loans to pay for recurring monthly bills, such as electricity, heat, internet and streaming services like Hulu. READ MORE | | Manufacturing Activity Contracted in May as Imports hit Lowest Level Since 2009
Economic activity in the US manufacturing sector continued to contract in May as imports tumbled to their lowest level since 2009, Yahoo Finance.com reported. The Institute for Supply Management's (ISM) manufacturing PMI registered a reading of 48.5 in May, down from April's reading of 48.7. Readings above 50 for this index indicate an expansion in activity, while readings below 50 indicate contraction. The manufacturing sector has been in contraction for most of the past two years. READ MORE | | EchoStar Misses Second Interest Payment Amid FCC Review
EchoStar is skipping another interest payment as it awaits the conclusion of a review by the Federal Communications Commission, WSJ Pro Bankruptcy reported. The Englewood, Colo., owner of Dish TV and Boost Mobile said Monday it wouldn’t make a $183 million cash interest payment due that day related to its Dish DBS company. The missed payment comes after the company said Friday it elected not to make a $326 million interest payment related to its spectrum business. READ MORE | | | | |
