On Monday December 11, 2017 women’s accessories retailer Charming Charlie filed for voluntary relief from its creditors, or Chapter 11. The BDC Reporter had warned of a likely Chapter 11 filing a few days ago. The Company hopes to use the court protection to restructure its balance sheet and shrink down the number of stores in the chain, many of which are based in malls.
This past Friday, Avaya Inc., announced that it had filed for Chapter 11 bankruptcy protection in attempt to reduce its load of $6.3 billion in debt. The telecommunications company has been burdened by debt since an $8.2 billion buyout in 2007 by private equity companies, Silver Lake Partners and TPG Capital. Looking at intraday broker loan quotes on Avaya's L+525 2020, today's market opened at a 83 7/8 bid and 84 5/8 offer. Since then, the market has trended down to most recently a 83 1/2 bid and 84 offer. The L+750 DIP remains constant at 102 3/4 and 103 1/2.