Prospect News reports five new defaults for week of Sept. 10-Sept. 16

By Caroline Salls

Pittsburgh, Sept. 18 – Prospect News reported five new defaults for the week of Sept. 10 through Sept. 16.

Specifically, Prospect News reported Chapter 11 bankruptcy filings made by Town Sports International, LLC, Cosmoledo, LLC, Century 21 Department Stores LLC and iQor Holdings Inc. and a scheme of arrangement proceeding filed by KCA Deutag UK Finance plc.

So far in 2020, Prospect News has reported 248 defaults, including 174 Chapter 11 bankruptcy filings, 29 missed interest payments, 10 Chapter 15 bankruptcy filings, six missed principal payments, five CCAA filings, four each of missed interest and principal payments and missed payments, three each of Chapter 7 bankruptcy filings and defaults, two each of administrations, CBCA filings and scheme of arrangement proceedings and one each of restructurings, reorganizations, appointments of receivers and Danish Section 11b filings.

The four companies that filed Chapter 11 bankruptcy this week listed $1.904 billion in assets and $2.033 billion in debt.

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