Alexander Gladstone

Alexander Gladstone, Alison Sider, Brian Schwartz Spirit Airlines is preparing to cease operations.

Talks led by Commerce Secretary Howard Lutnick couldn’t get bondholders and government aligned as a last-minute effort to rescue the airline fizzled.

Alexander Gladstone, Alison Sider, Brian Schwartz Spirit Airlines' time ran out Thursday evening.

Texas-based businessman Brad Heppner was convicted by a jury on federal charges of fraud and conspiracy.

PdVSA has retained the law firm to protect its interests in the Citgo sale after U.S. Treasury granted Venezuela permission to hire advisers on Tuesday.

The Clearlake-backed software-as-a-service company saw earnings drop recently after restructuring some $1.8 billion in debt less than two years ago.

Depressed chemicals demand and elevated energy costs from geopolitical tensions tipped Trinseo into chapter 11 after prior debt deals proved insufficient.

The chemical producer and creditors who support its restructuring plan said the prebankruptcy transactions helped improve the company’s health.

The telecom operator has set up a new subsidiary to give it more options, including the ability to raise about $6 billion in new debt financing.

The subprime auto dealer is pursuing strategic alternatives as it anticipates breaching its financial covenants.