- Bon Ton Stores ($BONT) looks like it's close to filing for bankruptcy this week.
- David's Bridal earned itself an S&P Global Ratings downgrade.
- More shenanigans by Sears Holdings ($SHLD) as holiday sales were down 16% and Land's End heads for the exits.
- Supervalu's junk bonds and leverage loan took a hit this week.
- Tenet Healthcare ($THC) is laying off employees and divesting assets.
- Teva Pharmaceutical Industries Ltd. ($TEVA) saw its credit rating cut to junk by Moody's Investors Service.
The company approved a 1-for-7 reverse stock split to fortify its NYSE listing ($SVU) and give suckers...we mean, investors, the impression that the company is in better shape than it actually is. In its Q1 earnings report, the company highlighted a boost to its wholesale business (to be served, in part, by an acquisition made out of the Central Grocers bankruptcy); it also attempted to assuage any concerns arising out of the potential lost Marsh Supermarkets volume (even as it kept 15 stores of business with the new owner). The company is launching meal kits (how effed is Blue Apron?) and grab-and-go meals.