Eastman Kodak on Monday warned it could soon declare bankruptcy for the second time this century. Its last bankruptcy, in 2012, nudged it toward licensing deals, one of which got the company involved in a dubious and poorly timed cryptocurrency venture. https://t.co/qLjGPpFnAy ...

Core Viewpoint - Spirit Airlines is facing a critical financial situation, warning it may not survive the next year without a significant cash infusion, just five months after emerging from bankruptcy protection [1][4]. Company Summary - The airline reported a decline in leisure trip bookings within the US and is struggling with intense competition, making it difficult to meet financial targets set post-bankruptcy [1][4]. - Spirit Airlines has expressed "substantial doubt" about its ability to continue operations beyond the next 12 months without new capital, citing uncertainties in cost-cutting efforts and ongoing negotiations with stakeholders [4][18]. - The company may need to provide additional collateral to its credit card processing partner to maintain that relationship [4]. - Spirit Airlines filed for Chapter 11 bankruptcy in November, marking the first major US carrier to do so since 2011, following years of losses, a failed takeover bid by JetBlue Airways, and a significant engine recall [5][9]. - The airline's restructuring plan eliminated approximately $795 million in debt, introduced $350 million in new equity, and established a $275 million credit line [9]. - The recent leadership change saw former CEO Ted Christie replaced by Dave Davis, as the company aims to appeal to higher-spending travelers and revamp its frequent flyer program [10]. Financial Performance - Spirit reported a net loss of $143 million for Q1 2025 and a second-quarter net loss of $245.8 million, worsening from a loss of $192.9 million in the same period last year [11][14]. - The airline's financial struggles are exacerbated by elevated capacity in the domestic market, leading to pressure on ticket prices, and higher operating costs due to tariffs [17]. - Spirit's business model, focused on short-haul leisure routes, leaves it vulnerable to declines in vacation travel, unlike some competitors who have benefited from strong international traffic [18]. Strategic Moves - The company is exploring the sale of non-core assets, including surplus planes, airport gates, and slots, to shore up finances, although there is no guarantee these efforts will be successful or timely enough to alleviate financial strain [19].

Upheaval on Puerto Rico’s financial oversight board is slowing down the bankruptcy of its power utility as the judge overseeing the case suspended a near-term filing deadline and asked for a status update on the board. https://t.co/Zc2AeHBc4N ...

America's quintessential mall retailer. Claire's has filed for bankruptcy again. Claire's, which is known for its endless aisles of accessories and having pierced over 100 million years, first filed for bankruptcy in 2018.That was because it couldn't repay the $1.9% billion at owed at the time. And after years of trying to turn around its business, it's been met with the same fate yet again. You're just not seeing your tweens and teens looking to storefronts to see what the trends are.They're looking online ...

US retailer Claire’s has filed for its second Chapter 11 bankruptcy, months after President Donald Trump’s tariff plans created uncertainty for how the pre-teen-focused retailer’s global supply chain will be affected https://t.co/5qWs6SHoBM ...

Core Viewpoint - Rite Aid is closing an additional 114 stores as part of its second bankruptcy proceedings in less than two years, driven by mounting debt, sluggish sales, and competition in the pharmacy industry [1][3][4]. Group 1: Bankruptcy and Store Closures - Rite Aid filed for Chapter 11 bankruptcy protection in May 2023, just eight months after exiting its first bankruptcy [2][4]. - The bankruptcy court in New Jersey approved the closure of 114 stores, with the majority located in Pennsylvania [1][2][7]. - The company has already closed 154 stores as part of its store optimization plan, reducing its footprint to approximately 1,245 locations [3][4]. Group 2: Financial Challenges - Rite Aid emerged from its first bankruptcy with $2.5 billion in liabilities, indicating ongoing financial struggles [4]. - The company has faced increased competition from other pharmacy chains such as Walgreens, CVS, Walmart, and Amazon, which has contributed to its financial difficulties [4][6]. Group 3: Industry Context - Industry experts anticipate further closures across the pharmacy sector as companies adjust to market demands and rightsize their operations [6]. - The rapid expansion of pharmacy locations has outpaced the actual need for pharmacies, leading to financial strain on companies like Rite Aid [6].

Business Restructuring - Wag! Group won court permission to try to slash debt under bankruptcy rules [1] - Wag! Group aims to hand control to senior creditor Retriever as early as next month [1]

Economic Analysis - Some US companies are attributing bankruptcies to tariffs [1] - Economists and analysts are skeptical of blaming tariffs for bankruptcies, at least for now [1]

Philippine Tycoon Joselito Campos-Backed Del Monte Pacific’s U.S. Unit Files For Bankruptcy https://t.co/uRF3MlhqLX https://t.co/uRF3MlhqLX ...

Economic Outlook - Elon Musk suggests America is going bankrupt extremely quickly [1] - The Defense Department budget is $1 trillion per year [1] Government Finance - Interest payments are a significant concern [1]