Prospect News reports six new defaults for week of June 18 to June 24

By Caroline Salls

Pittsburgh, June 26 – Prospect News reported six new defaults for the week of June 18 through June 24.

Specifically, Prospect News reported Chapter 11 bankruptcy filings made by CEC Entertainment, Inc., Jason Industries, Inc., GNC Holdings, Inc., the Roman Catholic Diocese of Syracuse, N.Y., American Addiction Centers and NorthEast Gas Generation, LLC.

In addition, Prospect News reported Qinghai Provincial Investment Group Co. Ltd.’s 6.4% bond restructuring, Technicolor SA’s Chapter 15 bankruptcy filing and Reliance Capital Ltd.’s missed interest and principal payment on its non-convertible debentures. However, those companies had all previously defaulted.

So far in 2020, Prospect News has reported 157 defaults, including 111 Chapter 11 bankruptcy filings, 21 missed interest payments, six missed principal payments, four each of CCAA filings and missed payments, three each of Chapter 7 bankruptcy filings and Chapter 15 bankruptcy filings, two missed principal and interest payments and one each of administrations, restructurings and Danish Section 11b filings.

The six companies that filed Chapter 11 bankruptcy this week listed a total of $3.923 billion of assets and $5.865 billion in debt.

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