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Troverco, a St. Louis-based distributor of packaged sandwiches and other foods to convenience stores in 22 states, has filed for bankruptcy, the St. Louis Post-Dispatch reported yesterday. The privately held company plans to lay off about 130 of its 230 employees, according to CEO Joseph Trover Jr. Affected employees, including about seven in St. Louis, have been notified, he said. Troverco filed for chapter 11 protection on Thursday, listing between $1 million and $10 million in both estimated assets and liabilities.

A Manhattan townhouse co-owned by the estranged founders of Two Boots, a New York City chain of quirky pizzerias, is being shopped in bankruptcy to pay off more than $5 million in debt as the restaurant grows beyond its roots in the gentrifying neighborhood, the Wall Street Journal reported today. The five-story, 8,500-square-foot East Village residence, currently in chapter 11, has been the object of a court fight between former partners Phil Hartman and Doris Kornish, who filed for divorce in 2005. Real-estate broker Warburg Realty said that it intends to list the property for $10 million. A final sale would need to be approved by a judge. Two Boots isn’t directly affected by the bankruptcy, and Hartman said sales have been strong. Some business debt is attached to the property, though, including a loan taken out in 2013 that with fees and interest has increased to $2.3 million.

21st Century Oncology Holdings Inc., which bills itself as the world's largest operator of cancer treatment centers, filed for chapter 11 protection yesterday citing changes in insurance reimbursement rates and uncertainty caused by political changes, Reuters reported. The Fort Myers, Fla.-based company said that the bankruptcy would not impact its 179 treatment centers with locations across 17 U.S. states and Latin America. Paul Rundell, the interim chief executive officer, said in a statement the company entered bankruptcy with an agreement with lenders and bondholders that would reduce its debt by $500 million. The company's lenders agreed to provide $75 million for working capital during its bankruptcy and a group of creditors agreed to invest $75 million into the reorganized business.

A few weeks after announcing “significant” layoffs, Suniva, a Georgia-based manufacturer of solar cells and modules, has filed for chapter 11 protection, Solar Industry reported yesterday. Suniva revealed the layoffs at both of its U.S. plants in late March but provided few details; however, WARN Act disclosure documents showed that the company cut 131 jobs at its Norcross, Ga., facility and 59 jobs at its Saginaw, Mich., location. While some local reports suggested the Saginaw plant had been completely shut down, the WARN Act document said that the plant “will remain open with a reduced staff,” though the filing did not specify whether the plant would continue production or operations. In its brief company announcement, Suniva blamed global module oversupply conditions and charged, “The reductions come as U.S. solar manufacturers face attack from the continued growth of global manufacturing overcapacity, particularly in Asia, and the ongoing influx of foreign imports, which continue to drive down domestic prices.”

Pawn America Minnesota filed for chapter 11 protection this week, succumbing to surging competition from online competitors and other factors shaking up the retail sector, the Minneapolis Star Tribune reported today. The company — which operates 23 pawnshops in Minnesota, Wisconsin and the Dakotas — reported on Wednesday that it owes between $10 million and $50 million to fewer than 1,000 creditors. Pawn America President and founder Brad Rixmann, in a message to employees, said he plans to reorganize and emerge from bankruptcy stronger. The retail chain does not yet have a restructuring plan in place, so it has no details on what stores might close or if staff will be cut, the company said. The company and its affiliated businesses, which started with a single store, now have about 450 employees who buy and sell used jewelry, electronics, computers, household items, sporting goods and other merchandise.

The U.S. arm of British lingerie company Agent Provocateur has filed for chapter 11 protection to execute a sale of its assets, which were stranded when the company went bankrupt in the U.K., MarketWatch.com reported yesterday Agent Provocateur Inc. filed for bankruptcy in the U.S. on Tuesday, having reached an agreement to sell 12 of its U.S. stores to Four Marketing Group. Fashion agency Four Marketing, which also bought Agent Provocateur's U.K. operation, has agreed to provide the U.S. company with a $500,000 bankruptcy loan and serve as a stalking horse bidder during a bankruptcy auction for the stores. Parent company Agent Provocateur Ltd. entered administration in the U.K. in March after accounting irregularities surfaced late last year, which would have required the company's private-equity sponsor, 3i Group PLC, to invest substantially more, according to court documents.

Alliance Medical Holdings LLC filed for bankruptcy protection after a criminal investigation into its operations spooked its lender, which threatened to cut off money for the company’s nearly 800 workers, the Wall Street Journal reported today. Lawyers who put the Utah firm into chapter 11 protection said yesterday that federal investigators raided its headquarters in suburban Salt Lake City and have already taken $1.2 million from a bank account. The company, which took in $160 million in revenue last year, uses an online resource center and a network of 20 pharmacies across the country to help people who have diabetes and other chronic health conditions. Alliance Medical officials don’t know the basis for the investigation but said that the company is operating in a lawful manner, its lawyer told Judge Marvin Isgur yesterday during a hearing in U.S. Bankruptcy Court in Houston. Alliance Medical officials have negotiated a deal with federal officials that enables the company to remain open during the investigation.

Less than two years after it opened, Green Valley Hospital is filing for Chapter 11 bankruptcy, its CEO said on Friday, the Arizona Daily Star reported. John Matuska told the Star the decision was made with the intent of financially strengthening the hospital for long-term success. Matuska took the helm of the for-profit hospital in October and is its third CEO. He said that the hospital was filing court papers on Friday in federal bankruptcy court in Tucson. He stressed that the filing represents a restructuring of debt, and will not affect day-to-day hospital operations. The hospital has about 300 employees and no layoffs are expected, officials said. Read more.

For more on hospital and health care insolvencies, be sure to pick up a copy of the ABI Health Care Insolvency Manual, Third Edition, from the ABI Bookstore. 

Mad Catz Interactive, a struggling maker of video game accessories, said on Friday that it will file for chapter 7 bankruptcy liquidation after failing to raise capital or find a buyer, the San Diego Union-Tribune reported on Saturday. The company, founded in 1989, is incorporated in Canada but headquartered in Mira Mesa, Calif. Its board of directors and executive officers have resigned, and PricewaterhouseCoopers has been appointed to oversee the company. Mad Catz made gaming accessories, headphones and controllers for in-home gaming consoles, powerful gaming computers and other devices. Its products were sold under the Mad Catz and Tritton brands. In September, Mad Catz sold its Saitek brand of flight simulation controllers to Logitech. The company received $11 million in cash, with $2 million deposited in escrow to cover potential claims. In 2015, a line of accessories for the Rock Band 4 video game helped boost the company’s sales. But revenue has dropped significantly since then. For the first nine months of its fiscal year ended Dec. 31, sales fell 63 percent from the prior year to $44.7 million. The company posted a $4 million loss.