Prospect News reports five new defaults for Feb. 9-Feb. 15

By Sarah Lizee

Olympia, Wash., Feb. 17 – Prospect News reported five new defaults for the period of Feb. 5 through Feb. 15.

Specifically, Prospect News reported Chapter 11 filings made by Avaya Holdings Corp., Tuesday Morning, Inc., ERBO Properties LLC and Sorrento Therapeutics, Inc. and a CCAA filing by Bed Bath & Beyond Inc.’s Canadian unit, BBB Canada Ltd.

So far in 2023, Prospect News has reported 41 defaults, including 29 Chapter 11 filings, seven missed interest payments, two missed principal and interest payments, and one each of CCAA filings, Chapter 15 filings and missed interest payments paid within a grace period.

The companies that filed Chapter 11 during the week reported at least $2.15 billion in assets and at least $1.25 billion in debt collectively.

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