Mere years after a deSPAC transaction, Wag! is going private again as its secured lender engages in a debt for equity swap in chapter 11, wiping out equity investors like General Catalyst, Greylock Capital and Naval Ravikant in the process.

www.petition11.com/p/wag-the-ba...

Do you rely upon Wag! to walk your dog or for pet insurance? You should probably get up to date on the company’s sad state of (financial) affairs. $PET

www.petition11.com/p/wag-the-wh...

Yesterday we published a report on two distressed situations (both public) that Oaktree Capital Management is deeply involved in. Check it out. $PNST $TPIC

www.petition11.com/p/oaktree-is...

It's baaaaaaaack. Rite-Aid files for bankruptcy ... again.

www.petition11.com/p/lotsa-liqu...

In today's edition, FTI's Global Segment Leader of Corporate Finance & Restructuring and a member of the Executive Committee, Michael Eisenband, provides commentary on the "state of the restructuring industry." $FCN

www.petition11.com/p/notice-of-...

We don't love seeing "bankruptcy" mentioned in this context.

www.nytimes.com/2025/04/29/b...

BREAKING: The US TREASURY DEPARTMENT ANNOUNCES A BOLD INITIATIVE TO REDUCE FEDERAL DEBT!

The US Department of Transportation’s proposed rescission of the New York MTA’s congestion pricing program … uh … creates some problems for the MTA. Per Moody’s:

Interested in middle market distress? Been curious about why restaurants have been filing for bankruptcy? We discussed that and more with Force 10 Partners' co-founder and partner, Adam Meislik.

www.petition11.com/p/notice-of-...

McKinsey is no longer a player in restructuring/bankruptcy; it hasn't been a player in a case in literally ears.

Jay Alix swept the leg and avoided the crane kick, no matter what this headline might suggest.

www.ft.com/content/9912...

This week we registered a "Notice of Appearance" by Andrew Glenn of Glenn Agre Bergman & Fuentes LLP. He discussed the Hertz Global chapter 11, Purdue Pharma, Robertshaw, liability management generally, equity committee reps, True Value and more. Check it out.

www.petition11.com/p/notice-of-...

LOL, the ADP October payrolls figure got revised down from 233k to 184k. Just a small miss, 🙄. Seriously, folks, why does anyone even pay attention to these figures? This is the biggest negative revision since 5/23.

One reason why biglaw shops are having an awfully hard time recruiting, retaining, and nurturing "talent" over the 9-12 years it takes someone to make partner.

The other reason? Biglaw blows.

www.axios.com/newsletters/... #axiosmarkets

This is one hell of an SOS coming from a bankrupted company -- in this case Northvolt AB.

The post-pandemic narrative has been that WFH is here to stay and "we're never going back" to five days at the office.

Time will tell.

It sure seems like trends are slowly reversing back to baseline.

This is an absolutely brutal chart: Chegg Inc. $CHGG

The company indicated that "global nonsubscriber" traffic declined 37% YOY for October.

Why?

Generative AI. 🤯

There’s a ton of private equity and venture capital dry powder out there folks.