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It appears that the financial troubles of Ditech Holding Corp., the nonbank formerly known as Walter Investment Management, are far from over, HousingWire.com reported. Last year, the company emerged from chapter 11 protection after completing a financial restructuring plan that eliminated $800 million in corporate debt and changed its name to Ditech Holding. But that wasn’t enough to put the nonbank’s troubles behind it. Now, just 14 months after filing for chapter 11, the company is filing for chapter 11, again. Ditech announced yesterday that it, along with its subsidiaries Ditech Financial and Reverse Mortgage Solutions, have entered into a “restructuring support agreement” that will seek to restructure the company’s debt, because the last time wasn’t enough, apparently. According to the company, through the restructuring, the company is attempting to eliminate $800 million more in debt, recapitalize, improve its liquidity, and build an “appropriately sized working capital facility.” To facilitate this restructuring, Ditech has filed for reorganization under chapter 11 in the U.S. Bankruptcy Court for the Southern District of New York.

Specialty gift retailer Things Remembered Inc. has filed for bankruptcy and intends to close most of its stores but has a deal in place to sell some of its remaining outlets to gift distributor Enesco LLC for $17.5 million, subject to higher bids, WSJ Pro Bankruptcy reported. Things Remembered filed for chapter 11 protection yesterday in the U.S. Bankruptcy Court in Wilmington, Del. Like other mall-based retailers that have filed for bankruptcy recently, Things Remembered has seen a decline in store sales as consumers shift to buying gifts online. Enesco’s bid means Things Remembered will likely continue outside of bankruptcy as a going concern, albeit with a significantly smaller footprint. As of January, Things Remembered had about 400 stores, court papers say. Enesco’s offer is for the retailer’s direct-sales business and at least 50 retail locations, with the option to add additional stores, according to court documents.

Prominent NASCAR industry sponsor DC Solar has filed for chapter 11 bankruptcy in the aftermath of a Dec. 18 raid of its California headquarters and the home of founders Jeff and Paulette Carpoff, Autoweek reported. In documents filed on Monday on behalf of DC Solar, the company's representative, Tracy M. O'Steen, has declared Seth Freeman as the debtors' chief restructuring officer. Freeman confirmed that the FBI and IRS raids seized “funds from all bank accounts associated with the DC Solar businesses” and “hundreds of items essential” for DC Solar to continue operating. Among the items seized included computer servers, computers, hard copy files of corporate records, investment agreements, lease agreements, vendor agreements and communications with investors, customers and insurance providers. The company was forced to lay off approximately 100 employees as a result.

Fullbeauty Brands Inc., the women’s plus-size retailer, set a record for the fastest U.S. corporate bankruptcy after taking less than 24 hours to win court approval for its plan to restructure the company, Bloomberg News reported. The company had support from all its stakeholders when it filed for chapter 11 protection on Sunday in the U.S. Bankruptcy Court in White Plains, New York. Fullbeauty, which had more than $1 billion of borrowings, is cutting around $900 million of debt through the bankruptcy process, allowing it to funnel less cash toward interest payments while it turns itself around. Judge Robert Drain said on Monday there were good reasons to approve the company’s plan promptly, including that every creditor had voted for the plan, and that the company has foreign suppliers that may not be comfortable selling to a company in bankruptcy. He gave verbal approval for the plan on Monday in court, less than a day after the original filing, and yesterday signed the official order approving the plan.

Fast-fashion retailer Charlotte Russe Holdings Corp. filed for chapter 11 bankruptcy on Sunday and plans to close about 20 percent of its stores but said it could liquidate the business entirely if it is unable to sell the business as a going concern, WSJ Pro Bankruptcy reported. The mall-based retailer, which operates the Charlotte Russe and Peek Kids chains, said its stores and websites will remain open but it will use the bankruptcy proceedings to immediately begin winding down 94 of its more than 500 locations. Charlotte Russe’s advisers are proposing two paths in chapter 11 as the future of the retailer hangs in the balance. The company is hoping a buyer will come forward to purchase at least a “material portion” of its business out of bankruptcy but could begin liquidating if it can’t come up with a deal in the next couple of weeks, according to court papers filed in the U.S. Bankruptcy Court in Wilmington, Del.

Fullbeauty Brands Inc., the women’s plus-size retailer, is on path to set a record for fastest U.S. bankruptcy after taking less than 24 hours to win court approval for its plan to restructure the company, Bloomberg News reported. The company had support from all its stakeholders when it filed for chapter 11 status on Sunday in the U.S. Bankruptcy Court in White Plains, New York. Fullbeauty, which had more than $1 billion of borrowings, is cutting around $900 million of debt through the bankruptcy process, allowing it to cut the cash it has to funnel toward interest payments while it turns itself around. Bankruptcy Judge Robert Drain said that there were good reasons to approve the company’s plan promptly, including that every creditor had voted for the plan, and that the company has foreign suppliers that may not be comfortable selling to a company in bankruptcy. He gave verbal approval for the plan and said he would sign an order officially confirming it today. The previous record for the fastest chapter 11 process is held by Blue Bird Body Co., which exited bankruptcy in 2006 in less than two days.

Novum Pharma LLC filed for bankruptcy Sunday and plans to sell its assets, saying it has faced a series of financial and operational challenges, WSJ Pro Bankruptcy reported. The Chicago-based drugmaker, which encountered public scrutiny a few years ago for hiking the price of its skin medications, filed for chapter 11 in the U.S. Bankruptcy Court in Wilmington, Del., and will sell the intellectual property for its product lines, along with other assets. The private company has assets of about $19.4 million and liabilities of roughly $53 million, consisting mostly of $35 million in unsecured current liabilities. Novum’s long-term liabilities include $2.8 million owed under an office lease and $15.2 million owed under a 2017 secured loan from RGP Pharmacap LLC, which is owned by a Novum board member and investor. Loan payments are scheduled to begin in September, and the collateral is substantially all of the company’s assets, a court filing says.

Utility and telecom contractor Consolidated Infrastructure Group Inc. has filed for bankruptcy protection after losing millions of dollars in a legal battle against a competitor over workers it had lured away for its own projects, WSJ Pro Bankruptcy reported. Executives who put the Omaha, Neb., company into bankruptcy on Wednesday said that they plan to look for buyers for the company, which once employed more than 1,000 people. The chapter 11 filing will help Consolidated Infrastructure Group avoid shutting down while its remaining 75 employees work on its three contracts. President Michael Johnson said in documents filed in U.S. Bankruptcy Court in Wilmington, Del., that the company, which faces $9 million in debt, doesn’t have enough money to pay its bills. Shutting down abruptly “could result in a public safety crisis in the communities where the contracts are located,” Johnson told Judge Brendan Linehan Shannon in court documents. Founded in 2016, the company provides information about what lies beneath a property’s surface to construction firms that are building or repairing buried lines for electric, gas, water, sewer, cable and telecom companies throughout North America. Johnson blamed the company’s troubles on several money-losing contracts and a legal dispute with Indiana-based USIC LLC, a much larger competitor.

Gigi's Cupcakes, the well-known bakery chain formerly based in Nashville, has filed for chapter 11 bankruptcy protection in the Northern District of Texas, the <em>Nashville Business Journal</em> reported. Launched by Gigi Butler in 2008 with a single Midtown Nashville shop, Gigi's was sold in 2016 to FundCorp, a Texas-based private equity firm. On Jan. 4, chapter 11 petitions were filed on behalf of three Gigi's-related entities: Gigi's Cupcakes LLC, Gigi's Operating LLC and Gigi's Operating II LLC. Similar petitions were also filed for entities tied to Mr. Gatti's, an Austin-based pizza chain acquired by FundCorp in 2015. Separately, Gigi's has been engaged in a complex legal battle with several franchisees related to their franchise agreements. Actions filed by nearly 20 franchisees have been consolidated into one case, which remains on the docket in the Northern District Court of Texas. The most recent filing in the case is a stay of proceedings following the bankruptcy petition.

Beauty Brands LLC, a Midwest retail chain selling makeup, hair and skincare products, has filed for bankruptcy protection in hopes of salvaging at least some of its locations through a sale in chapter 11, WSJ Pro Bankruptcy reported. The Kansas City, Mo.-based retailer filed for chapter 11 protection Sunday in the U.S. Bankruptcy Court in Wilmington, Del., saying it owes at least $6.9 million on a secured loan and about $11 million to vendors, suppliers and other unsecured creditors. Beauty Brands cited declining sales, increased operating costs and an expensive rebranding at a handful of locations that have underperformed as causes for the bankruptcy filing. The retailer is backed by San Francisco-based private equity firm TSG Consumer Partners, court papers say.