News for the Week of 11/27/16

  • Avaya. The long-rumored and awaited Chapter 11 filing may be imminent.
  • Buzzfeed. Buzzfeed acqui-hired Ben Kaufman, former high-flying CEO of the bankrupted Quirky to try and crack the elusive e-commerce nut
  • Dallas. Police and firefighter pensions threaten to push the growing city into municipal bankruptcy.
  • Payless Shoes. Australian operations may prove to be a leading indicator for what's to come in the U.S. Meanwhile, as retailers fall into bankruptcy left and right, once-bankrupt Circuit City is scratching and clawing to a (potential) re-emergence. While American Apparel got pantsed last week, it seems that Abercrombie is getting closer to losing its shirt (#dadjoke?).
  • Sun Capital. Fresh on the heals of the Garden Fresh bankruptcy, it looks like another portfolio company is on the verge of a restructuring as The Limited Stores - with a not-so-limited 243 locations - has hired Guggenheim Partners to explore strategic alternatives. Other accounts indicate that this may be an IP asset sale in the vein of American Apparel
  • Rewind: Coal. Last week we highlighted the contradiction between what is happening in the coal industry and what President-Elect Trump says will happen. In another blow to coal, generally, Canada announced this week that intends to fully phase out coal by 2030.
  • Chart of the Week