Deep Dives

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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

Tech, Media & Telecom

Mitel Networks Deep Dive and Uptier Analysis

Jan 9, 2026

•

39 min read

Mitel Networks Deep Dive and Uptier Analysis

A delayed pivot to the cloud and descent from a legally robust uptier into Chapter 11

Consumer & Retail

City Brewing: A Hard Seltzer LME Hangover

Dec 19, 2025

•

31 min read

City Brewing: A Hard Seltzer LME Hangover

How White Claw’s co-manufacturer was forced into back-to-back LMEs

Deep Dives

YesCare (Corizon Health): Texas Two-Step Case Study

Dec 12, 2025

•

24 min read

YesCare (Corizon Health): Texas Two-Step Case Study

Substandard medical care, mass tort claims, and a Texas Two-Step case study.

Consumer & Retail

Rough Justice Resolution: Weight Watchers Prepackaged Chapter 11

Dec 5, 2025

•

38 min read

Rough Justice Resolution: Weight Watchers Prepackaged Chapter 11

How impaired creditors may have marked a pragmatic alternative in bankruptcy

Deep Dives

Nov 28, 2025

•

39 min read

Intrum, a Transatlantic Turnaround

How a European Debt Collector Executed a Texas Prepack

Consumer & Retail

Washington Prime Group: From Tenant Churn to Balance-Sheet Failure

Nov 21, 2025

•

32 min read

Washington Prime Group: From Tenant Churn to Balance-Sheet Failure

How a combination of secular headwinds and COVID-induced macroeconomic shock drove one of the largest U.S. operators of shopping malls into Chapter 11

Tech, Media & Telecom

Audacy Deep Dive, From Radio Pioneer to an Impaired DIP

Nov 14, 2025

•

29 min read

Audacy Deep Dive, From Radio Pioneer to an Impaired DIP

A breakdown of the mechanics that turned a short-term DIP into a high-upside equity play

Industrials

A Sharp Turn: Oregon Tool’s Post-Serta LME

Nov 7, 2025

•

28 min read

A Sharp Turn: Oregon Tool’s Post-Serta LME

How Platinum Equity’s Oregon Tool took the new “extend-and-exchange” one step further

Tech, Media & Telecom

Silicon Carbide’s Champion Stumbles: Wolfspeed’s Path to Bankruptcy

Oct 31, 2025

•

48 min read

Silicon Carbide’s Champion Stumbles: Wolfspeed’s Path to Bankruptcy

How an expected beneficiary of the semiconductor boom collapsed from its largest bet on silicon carbide

KKR

Oct 17, 2025

•

43 min read

Thames Water Part 3, The Last Drops?

A debt-ridden utility caught up between hedge funds fighting for scraps, all while the public watches on

Deep Dives

Oct 14, 2025

•

31 min read

Thames Water Part 2, Sink or Swim?

The years that pushed Britain’s biggest utility to an all out national crisis

Deep Dives

Thames Water Part 1, How the Tap Ran Dry

Oct 10, 2025

•

46 min read

Thames Water Part 1, How the Tap Ran Dry

From a privatization dream to a public liability nightmare, an in-depth analysis of the utility giant’s unravelling

Consumer & Retail

The Container Store’s Prepack Chapter 11: From Organization to Reorganization

Oct 3, 2025

•

30 min read

The Container Store’s Prepack Chapter 11: From Organization to Reorganization

A commoditized product set and intense e-commerce competition that ultimately pushed The Container Store into bankruptcy, and a prepack to extend looming maturities

Deep Dives

Better Health: Liability Management’s Post-Serta Prototype

Sep 26, 2025

•

29 min read

Better Health: Liability Management’s Post-Serta Prototype

How a physician rollup became the first test of the “Extend-and-Exchange” LME

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

Clearlake

Golden Gate

HPS

KKR

Macquarie

Oaktree

Platinum Equity

Searchlight

Vista

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

Mitel Networks Deep Dive and Uptier Analysis

City Brewing: A Hard Seltzer LME Hangover

YesCare (Corizon Health): Texas Two-Step Case Study

Rough Justice Resolution: Weight Watchers Prepackaged Chapter 11

Intrum, a Transatlantic Turnaround

Washington Prime Group: From Tenant Churn to Balance-Sheet Failure

Audacy Deep Dive, From Radio Pioneer to an Impaired DIP

A Sharp Turn: Oregon Tool’s Post-Serta LME

Silicon Carbide’s Champion Stumbles: Wolfspeed’s Path to Bankruptcy

Thames Water Part 3, The Last Drops?

Thames Water Part 2, Sink or Swim?

Thames Water Part 1, How the Tap Ran Dry

The Container Store’s Prepack Chapter 11: From Organization to Reorganization

Better Health: Liability Management’s Post-Serta Prototype

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