Busted Tech: Once-Bankrupt Quirky is Back

Quirky is back. Why have recent tech companies failed (and, in certain cases like Quirky, gone bankrupt)? Because, according to Wired, hardware is...uh...hard. Tell that to the investors in Roku ($ROKU), which IPO'd this week and soared 67% on day one and another 20% on day two (to be fair, Roku is hardware and software, but whatevs). 

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: