Prospect News reports nine defaults for week of April 30-May 6

By Caroline Salls

Pittsburgh, May 8 – Prospect News reported nine new defaults for the week of April 30 through May 6.

Specifically, Prospect News reported Chapter 11 bankruptcy filings made by John Varvatos Enterprises, Inc., Permico Midstream Partners Holdings, LLC, GGI Holdings, LLC, Chinos Holdings, Inc., the Archdiocese of New Orleans, Rubie’s Costume Co., Inc. and Klausner Lumber One LLC, a Chapter 15 bankruptcy filing made by Virgin Australia Holdings Ltd. and a missed interest payment on Entrec Corp.’s 6.5% convertible subordinated debentures due June 30, 2021.

In addition, Prospect News reported missed interest and principal payments on Reliance Capital Ltd.’s non-convertible debentures and a missed interest payment on Omnia Bonds II plc (Omnia Private Equity AG)’s 6.5% five-year notes. However, both of those companies had previously defaulted.

So far in 2020, Prospect News has reported 108 defaults, including 71 Chapter 11 bankruptcy filings, 21 missed interest payments, six missed payments, three missed principal payments, two each of administrations and Companies’ Creditors Arrangement Act filings and one each of missed principal and interest payments, Chapter 15 bankruptcy filings and Chapter 7 bankruptcy filings.

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