Deep Dives

Jun 19, 2026

•

25 min read

Carestream: A Negative Film

How a turnaround buyout of an X-ray company turned into a two-decade battle against technological obsolescence

Tech, Media & Telecom

Cyxtera Technologies: A Data Center Business Built on the Wrong Real Estate

Jun 12, 2026

•

26 min read

Cyxtera Technologies: A Data Center Business Built on the Wrong Real Estate

How the company’s leasing model pushed it into bankruptcy, then became one of the cleanest post-reorg turnarounds in years

Tech, Media & Telecom

Jun 5, 2026

•

27 min read

FinThrive: Collection Issues

How Clearlake’s RCM rollup turned into a potential double LME

Consumer & Retail

Hostess Brands: The Pension Liability That Ate Twinkies

May 29, 2026

•

24 min read

Hostess Brands: The Pension Liability That Ate Twinkies

Understanding the Role of Multi-Employer Pensions in Hostess’s 2012 Chapter 22

Tech, Media & Telecom

May 22, 2026

•

28 min read

Ivanti Software: A Compromised Platform

How a catastrophic cyber attack led to a $3bn software LME

Siris Capital

May 15, 2026

•

23 min read

Newfold Digital: Domain Expired

How $570mm in sponsor dividends and competitive disruption led to a $3.5bn LME

Platinum Equity

May 8, 2026

•

24 min read

LifeScan: Too Hard to Turn Around

How Platinum Equity's turnaround plan for a legacy medical device company ended up as a debt-to-equity swap

Industrials

United Site Services: A Royal Equity Flush

May 1, 2026

•

25 min read

United Site Services: A Royal Equity Flush

How a $4bn portable bathroom continuation vehicle didn’t go as planned

Deep Dives

Apr 24, 2026

•

28 min read

Sunnova: Too Close to the Sun

The collapse of America's second-largest residential solar provider in one of 2025's largest Chapter 11 restructurings

Industrials

Apr 17, 2026

•

23 min read

FXI Holdings: A Not-so-Soft Landing

How a twice-restructured foam manufacturer became the testing ground for a novel post-LME provision

Industrials

Apr 10, 2026

•

29 min read

Rinchem: The Chemistry of Control

How customer concentration, contractual commitments, and a sponsor portfolio merger shaped a novel LME

Tech, Media & Telecom

Apr 3, 2026

•

30 min read

RSA Security: Identity Crisis

How the Clearlake-backed cybersecurity pioneer unraveled into one of the most deeply distressed LMEs in recent memory.

Deep Dives

Mar 27, 2026

•

32 min read

23andMe: Predisposed to Bankruptcy

From a $6bn valuation to bankruptcy court: inside the collapse of a pioneer in direct-to-consumer genetic testing

Industrials

Jervois Global: Anatomy of a Commodity-Driven Chapter 11

Mar 24, 2026

•

24 min read

Jervois Global: Anatomy of a Commodity-Driven Chapter 11

How an unexpected decline in commodity pricing and substantial capex needs led to Jervois’ bankruptcy

Deep Dives

Mar 20, 2026

•

39 min read

ModivCare: A Drive to Bankruptcy Court

The rise and fall of America's largest medical transportation company

Industrials

Mar 13, 2026

•

41 min read

Xerox: Exploiting the Fine Print

How Xerox’s February LME utilized a novel loophole to restructure its declining empire

Consumer & Retail

Mar 3, 2026

•

32 min read

Big Lots: Discounted Into Bankruptcy

Post-COVID retail market shift, capital allocation missteps, and a Chapter 11 that did not go as planned.

Consumer & Retail

Feb 27, 2026

•

29 min read

Empire Today: Floored by the Market

How the shop-at-home giant’s 2021 LBO led to back-to-back restructurings

KKR

Del Monte Foods: From LME to Section 363

Feb 20, 2026

•

45 min read

Del Monte Foods: From LME to Section 363

The Amazing Story of Del Monte’s Failed LME and Chapter 11

Tech, Media & Telecom

Magenta Buyer: The Blocking Position Playbook

Feb 13, 2026

•

38 min read

Magenta Buyer: The Blocking Position Playbook

How Elliott Management converted documentary control into coercive economics in a high-participation LME

Consumer & Retail

Franchise Group: The Roll-Up That Collapsed in Bankruptcy and Reemerged as Fusion

Feb 10, 2026

•

42 min read

Franchise Group: The Roll-Up That Collapsed in Bankruptcy and Reemerged as Fusion

How an aggressive group of structurally subordinated lenders turned a simple Chapter 11 into one of the messiest and most litigious bankruptcies of 2025

Consumer & Retail

Jan 30, 2026

•

26 min read

MRP Solutions: Molded by Distress

How the Clearlake-Backed Plastic Closures Manufacturer Became a Template for LME 3.0

Deep Dives

Jan 27, 2026

•

35 min read

Wellpath’s Chapter 11 Deep Dive

How inadequate care services and mass tort claims drove Wellpath to restructure under a Prepack Chapter 11 and Section 363 asset sale

KKR

Breaking the Pro-Rata Paradigm in Europe: Deconstructing Selecta’s Creditor-Led Restructuring

Jan 23, 2026

•

42 min read

Breaking the Pro-Rata Paradigm in Europe: Deconstructing Selecta’s Creditor-Led Restructuring

Inside the “Distressed Disposal” Trap: How the AHG Weaponized European Documentation Holes to Engineer a Coercive Squeeze

Deep Dives

McDermott, A Cross-Border Double Restructuring

Jan 16, 2026

•

39 min read

McDermott, A Cross-Border Double Restructuring

A classic case of leverage outpacing growth

Archive

Deep Dives

ARTICLE

Deep Dives

Technical Lesson

Other

Personal

RESTRUCTURING

In-Court

Out-of-court

Liquidation

INDUSTRY

Tech, Media & Telecom

Healthcare

Financials

Industrials

Consumer & Retail

Energy / Power

SPONSOR

Angelo Gordon

Apollo

Ardian

Ares

Blackstone

Brookfield

Charlesbank

Clearlake

Golden Gate

H.I.G. Capital

HPS

KKR

Macquarie

Oaktree

One Rock

Onex

Platinum Equity

Searchlight

Siris Capital

Stonepeak

Symphony Technology Group

TA Associates

Vista

Carestream: A Negative Film

Cyxtera Technologies: A Data Center Business Built on the Wrong Real Estate

FinThrive: Collection Issues

Hostess Brands: The Pension Liability That Ate Twinkies

Ivanti Software: A Compromised Platform

Newfold Digital: Domain Expired

LifeScan: Too Hard to Turn Around

United Site Services: A Royal Equity Flush

Sunnova: Too Close to the Sun

FXI Holdings: A Not-so-Soft Landing

Rinchem: The Chemistry of Control

RSA Security: Identity Crisis

23andMe: Predisposed to Bankruptcy

Jervois Global: Anatomy of a Commodity-Driven Chapter 11

ModivCare: A Drive to Bankruptcy Court

Xerox: Exploiting the Fine Print

Big Lots: Discounted Into Bankruptcy

Empire Today: Floored by the Market

Del Monte Foods: From LME to Section 363

Magenta Buyer: The Blocking Position Playbook

Franchise Group: The Roll-Up That Collapsed in Bankruptcy and Reemerged as Fusion

MRP Solutions: Molded by Distress

Wellpath’s Chapter 11 Deep Dive

Breaking the Pro-Rata Paradigm in Europe: Deconstructing Selecta’s Creditor-Led Restructuring

McDermott, A Cross-Border Double Restructuring

Pari Passu

Quick Links

Want to sponsor?

Stay Updated