Prospect News reports five new defaults for May 5-May 11 period

By Sarah Lizee

Olympia, Wash., May 13 – Prospect News reported five new defaults for the period of May 5 through May 11.

Specifically, Prospect News reported Chapter 11 filings made by Armstrong Flooring, Inc., Cypress Environmental Partners, LP and Talen Energy Supply LLC, an administration by McColl's Retail Group plc, and a reorganization by Recylex SA.

So far in 2022, Prospect News has reported 55 defaults, including 22 Chapter 11 filings, 15 missed interest payments, seven missed interest and principal payments, four Chapter 15 filings, two defaults, and one each of Chapter 7 filings, reorganizations, liquidations, administrations, and bankruptcy filings.

The companies that filed Chapter 11 bankruptcy during the week listed at least $1.6 billion in assets and at least $1.38 billion in liabilities.

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