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July Commercial Chapter 11 Filings Increase 78 Percent over Last Year
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Commercial chapter 11 filings totaled 911 in July, an increase of 78 percent over the 512 filings in July 2024, according to data provided by Epiq AACER, the leading provider of U.S. bankruptcy filing data. The overall July commercial filing total of 2,997 represented a 26 percent increase from the July 2024 commercial filing total of 2,371. Small business filings, captured as subchapter V elections within chapter 11, increased 30 percent to 206 in July 2025 from 159 the previous year. READ MORE
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Claire’s Skips Rent Payments, Moving Closer to Bankruptcy Filing
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Claire’s Stores is inching closer to filing for chapter 11 bankruptcy as the teen accessory chain elected to miss June and July rent payments on some stores, Bloomberg News reported. The firm may seek protection as soon as this week, but doing so could take longer as the retailer finalizes details of the filing. READ MORE
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PREPA Bondholders to Appeal Judge’s Ruling on Debt Classification
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A group of Puerto Rico Electric Power Authority (PREPA) creditors is appealing a recent court ruling that their $8.5 billion claim against PREPA is a subordinated debt in the separate commonwealth debt adjustment plan and not entitled to payment, the San Juan Daily Star reported. READ MORE
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New Kentucky Business, Luca Mariano Distillery, Files for Chapter 11 Protection
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A Danville distillery has filed for chapter 11 bankruptcy just months after opening, according to court records, the Louisville Courier Journal reported. READ MORE
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 | | Daily Roundup |
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Avant Gardner Files for Bankruptcy After Brooklyn Mirage Fails to Open for Season
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Avant Gardner, the company behind the outdoor music venue Brooklyn Mirage, filed for chapter 11 bankruptcy yesterday, CBS New York reported. The filing comes three months after the venue failed to open for the season. The company says that its two indoor spaces, known as the Great Hall and the Kings Hall, will remain open during the chapter 11 process. READ MORE
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U.S. Employment Trends Weaken, Underlining Labor-Market Jitters
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An index of U.S. employment fell to its lowest point since October last year, as concerns rise about the resilience of the jobs market after large downward revisions to official data, the Wall Street Journal reported. The Conference Board’s Employment Trends Index, or ETI, fell to 107.55 in July from an upwardly revised 108.19 in June, the research group said Monday. (Subscription required.) READ MORE
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Push to Add ‘Buy Now, Pay Later’ Loans to Credit Scores Hits a Snag
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Credit scores are supposed to start incorporating “buy now, pay later” loans this fall. The plans may already be hitting a speed bump, the Wall Street Journal reported. Klarna, one of the biggest providers of the popular loans, said it wouldn’t share data about the bulk of its loans with credit bureaus until it gets assurances that its customers won’t be unfairly penalized for using its payment options. BNPL provider Afterpay has also said it plans to withhold data until it has proof its customers won’t be harmed. (Subscription required.) READ MORE
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U.S. Factory Orders Fall Sharply in June on Aircraft Orders Drop
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New orders for U.S.-manufactured goods fell in June as commercial aircraft orders plunged, reversing the surge in plane orders that had driven the overall upswing in orders in the prior month, Reuters reported. Factory orders tumbled 4.8% after an upwardly revised 8.3% increase in May, the Commerce Department's Census Bureau said on Monday. Economists polled by Reuters had forecast factory orders would decline 4.8% after a previously reported 8.2% jump in May. Orders were up 3.8% on a year-over-year basis in June. READ MORE
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Americans Could Soon See Higher Costs from Tariffs, Fed's Hammack Says
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Americans could see inflation tick higher in 2025 as businesses start to pass on the cost of the Trump administration's tariffs to consumers through price hikes, Beth Hammack, president and CEO of the Federal Reserve Bank of Cleveland, CBSNews.com reported. "Individual businesses have been trying to hold back on, passing on those [tariff] costs, because they're worried about what it might mean for demand," Hammack told O'Grady. "They've been selling inventory that they'd accumulated early in the year, and so they didn't need to charge for the tariffs on that, but they're coming through those stockpiles." READ MORE
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