Soma Biswas

Ray Blanchette, the former chief executive of TGI Fridays, has been chosen as the manager of the bulk of the chain's restaurants globally, replacing a consulting firm that stepped in after the company defaulted on debt, according to people familiar with the matter.

The private hospital operator, a large tenant of Medical Properties Trust, is working with advisers to explore options.

Fast-fashion retailer Forever 21 is considering filing for bankruptcy after exiting its last chapter 11 roughly five years ago, according to people familiar with the matter. Mall owners Simon Property Group and Brookfield oration teamed up with brand licensing company Authentic Brands Group to buy Forever 21 out of bankruptcy in 2020, saving the chain from liquidation. Forever 21’s owners last month announced that they are exploring strategic options for the chain’s operations.

The company is struggling with competitive pressure in the apparel sector.

Electric-truck maker Nikola, which briefly boasted a market value above Ford Motor before its founder was charged with fraud, filed for bankruptcy after struggling with high costs and a trucking industry reluctant to abandon diesel engines.

Bankrupt sewing- and yarn-supply retailer Joann is closing its stores after more than 80 years in business.

Bankruptcy watchdog criticized the law firm’s retention because of work for fast-fashion chain’s corporate parent.

Rite Aid’s bank lenders risk taking losses as the company weighs a bankruptcy filing, according to loan prices and people familiar with the matter, a potential rarity among top-ranking loans backed by hard assets.

The Philadelphia-based chain entered bankruptcy again to seek buyers for its assets.

A bankruptcy judge authorized the defunct hospital operator to take out a $127 million loan in a settlement with its top lenders.