Prospect News reports nine new defaults for week of July 2 to July 8

By Caroline Salls

Pittsburgh, July 10 – Prospect News reported nine new defaults for the week of July 2 through July 8.

Specifically, Prospect News reported Chapter 11 bankruptcy filings made by Sur La Table, Inc., Brooks Brothers Group, Inc., Vivus, Inc., Endologix, Inc. and Lucky Brand Dungarees, LLC, a Chapter 15 bankruptcy filing made by DavidsTea Inc./DavidsTea (USA), Inc., a Canadian Business Corporations Act filing made by Just Energy Group Inc., an administration filed by Travelex Banknotes Ltd. and a default on Century Sunshine Group Holdings Ltd.’s 7% notes due 2020.

In addition, Prospect News reported missed interest and principal payments on Reliance Capital Ltd.’s non-convertible debentures. However, Reliance previously defaulted in connection with several other missed payments.

So far in 2020, Prospect News has reported 179 defaults, including 123 Chapter 11 bankruptcy filings, 24 missed interest payments, six missed principal payments, five each of CCAA filings and Chapter 15 bankruptcy filings, four missed payments, three Chapter 7 bankruptcy filings, two each of administrations, defaults and missed principal and interest payments and one each of CBCA filings, restructurings and Danish Section 11b filings.

The five companies that filed Chapter 11 bankruptcy this week listed a total of $1.193 billion of assets and $1.243 billion in debt.

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