Prospect News reports four new defaults for Aug. 3-Aug. 9

By Sarah Lizee

Olympia, Wash., Aug. 11 – Prospect News reported four new defaults for Aug. 3 through Aug. 9.

Specifically, Prospect News reported Chapter 11 filings made by Western Global Airlines, Inc., Proterra Inc., Mercy Iowa City and Yellow Corp.

So far in 2023, Prospect News has reported 160 defaults, including 106 Chapter 11 filings, 20 missed interest payments, 12 missed principal and interest payments, five CCAA filings, three each of missed principal payments and Chapter 15 filings, two each of conciliations, Chapter 7 filings, missed interest payments paid within a grace period and recapitalizations, and one each of reorganizations, liquidations and judicial reorganizations.

The four companies that filed Chapter 11 during the week reported at least $2.75 billion in assets and at least $3.19 billion in debt collectively. The bulk of those amounts came from Yellow, which posted $2.15 billion in assets and $2.59 billion in liabilities.

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