News for the Week of 10/23/16

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  • Stone Energy - the company announces plans for a prepackaged bankruptcy which, from our vantage point, will be one among a grouping of next-wave oil-and-gas-related prepackaged/prearranged chapter 11s to file this quarter (perhaps starting as early as this week).  
  • Distressed Debt Market - "They raised the money and now they have few places to put it." - an assessment of the overall state of distressed debt when low rates persist and bonds trade up. Marc Lasry, however, talks capital deployment in energy.  
  • Relativity Media - the Chapter 7 or Chapter 22 watch continues. 
  • Retail Grocery - continued movement in the battered space as Supervalu sells Save-a-Lot. 
  • Bill Ackman - is his comeuppance around the corner? 
  • True Religion - cheesiness, the millennial preference for athleisure, and too much debt put denim retailer in distressed territory.
  • Chart of the Week:
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