Prospect News reports six new defaults for June 8-June 14

By Sarah Lizee

Olympia, Wash., June 16 – Prospect News reported six new defaults for June 8 through June 14.

Specifically, Prospect News reported Chapter 11 filings made by Rockport Co., LLC, Instant Brands Holdings Inc., the Center for Autism and Related Disorders, LLC, Friendship Village of Schaumburg (Evangelical Retirement Homes of Greater Chicago, Inc.), Lucky Bucks LLC and AeroFarms, Inc.

Prospect News also reported missed principal and interest payments from Omnia Bonds II plc (Omnia Private Equity AG), E-House (China) Enterprise Holdings Ltd. and Yuzhou Group Holdings Co. Ltd., but the companies had defaulted previously.

So far in 2023, Prospect News has reported 127 defaults, including 87 Chapter 11 filings, 14 missed interest payments, 11 missed principal and interest payments, four CCAA filings, two each of Chapter 15 filings, conciliations and recapitalizations, and one each of judicial reorganizations, Chapter 7 filings, liquidations, and missed interest payments paid within a grace period.

The companies that filed Chapter 11 during the week reported at least $770 million in assets and at least $1.35 billion in debt collectively.

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