Prospect News reports one new default for week of Aug. 24 to Aug. 30

By Caroline Salls

Pittsburgh, Sept. 1 – Prospect News reported one new default for the week of Aug. 24 through Aug. 30 in the form of Perfumania Holdings, Inc.’s Chapter 11 bankruptcy filing.

In addition, Prospect News reported Nam Cheong Ltd.’s missed interest payment, paid within the grace period, on its series 002 5% notes due 2017 and series 003 5.05% notes due 2019. However, Nam Cheong previously defaulted in connection with a July 23 missed interest payment, paid within the grace period.

So far in 2017, Prospect News has reported 125 defaults, including 67 Chapter 11 bankruptcy filings, 19 missed interest payments, six missed principal payments, five schemes of arrangement, four each of Chapter 15 bankruptcy filings and distressed exchanges, two each of Title III filings and recapitalizations and one each of administrations, bankruptcies, Chapter 7 bankruptcy filings, extrajudicial reorganizations, involuntary Chapter 11 bankruptcy filings, Companies’ Creditors Arrangement Act filings, missed principal and interest payments, missed interest payments paid within the grace period, notes-for-equity exchanges, plans of arrangement, liquidations, provisional liquidations, safeguard proceedings, missed maturity payments, insolvencies and civil rehabilitations.

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