Prospect News reports five new defaults for Sept. 7-Sept. 13

By Sarah Lizee

Olympia, Wash., Sept. 15 – Prospect News reported five new defaults for Sept. 7 through Sept. 13.

Specifically, Prospect News reported Chapter 11 filings made by Hartman SPE, LLC (a subsidiary of Silver Star Properties REIT, Inc.), Noble House Home Furnishings LLC, Soft Surroundings Holdings, LLC and Off Lease Only and a Chapter 15 filing made by Digicel Group Holdings Ltd.

So far in 2023, Prospect News has reported 185 defaults, including 124 Chapter 11 filings; 21 missed interest payments; 12 missed principal and interest payments; six CCAA filings; five Chapter 15 filings; three missed principal payments; two each of liquidations, conciliations, Chapter 7 filings, missed interest payments paid within a grace period and recapitalizations; and one each of bankruptcies, reorganizations, judicial reorganizations and schemes of arrangement.

The companies that filed Chapter 11 bankruptcy during the week reported at least $350 million of assets and at least $400 million of liabilities collectively.

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