Weekly News & Updates

Here's the latest bankruptcy news you should know about from this week.

Manufacturing

🪵 TimberHP has filed for Chapter 11 bankruptcy, citing higher-than-expected construction costs and delays launching its TimberBoard product line. The wood fiber insulation maker aims to continue operations during restructuring and stabilize its business.
‍

Technology

💳 Solid, a banking-as-a-service startup once valued at $330 million, has filed for Chapter 11 bankruptcy after raising nearly $81 million in funding. The company aims to restructure or sell its assets while continuing operations during the process.

💻 Vertex Energy Inc. has emerged from bankruptcy by securing up to $100 million in new financing and restructuring its debt. The company plans to focus on conventional oil production, which experts believe may improve its financial stability.
‍

Real Estate

🏚️ Rokstad Holdings Corporation, a Canadian power services company, has reached a settlement with its owner following bankruptcy proceedings. Details of the settlement terms have not been publicly disclosed.

‍

Transportation & Travel

🚚 Best Logistics Inc. has filed for Chapter 11 bankruptcy under Subchapter V, citing financial challenges. The Memphis-based trucking firm intends to continue operations during restructuring to stabilize its business.

✈️ Spirit Airlines CEO Ted Christie stepped down in April 2025, just months before receiving a $3.8 million retention bonus. The airline emerged from bankruptcy in March 2025 after reducing its debt by $795 million and securing a $350 million equity investment.‍

‍

Healthcare

💊 Rite Aid is considering filing for bankruptcy again after a recent financial restructuring failed to secure long-term stability. The company is also exploring a potential sale of parts or all of its business as alternatives to Chapter 11 filing.

💊 CVS Pharmacy is also considering filing for a repeat bankruptcy after poor performance in its most recent quarterly financials, despite efforts to turn around its operations.

🏥 One Medical is potentially heading toward another bankruptcy filing after experiencing further financial troubles, despite a 2024 restructuring plan. The company has faced mounting pressures from debt and the competitive landscape.

⚖️ WeightWatchers, the health and wellness brand, is preparing for bankruptcy to offload control to creditors.‍

--> Check out "Is WeightWatchers Heading for Bankruptcy?"
‍

Retail

🏬 Big Lots is set to reopen 219 store locations across the U.S. by June 2025 following an acquisition by Variety Wholesalers. The reopening begins in April with nine stores in six states, aiming to revitalize the Big Lots brand and introduce new offerings, including an apparel department.

🥃 Westward Whiskey, a Portland-based American whiskey producer, has filed for Chapter 11 bankruptcy protection. The distillery plans to continue operations during reorganization, aiming to position itself for future success.

🏠 At Home Group Inc., a home décor retailer, is negotiating a debt deal that could turn over control to its lenders.

‍

Food & Beverage

🥞 TA IHOP, a Burlington, N.J.-based IHOP franchisee, has filed for Chapter 11 bankruptcy, listing assets and liabilities between $100,000 and $500,000. The debtor plans to reorganize while maintaining restaurant operations.

‍

Marketing & Media

🎯 Publishers Clearing House, the sweepstakes and direct marketing firm, filed for bankruptcy to cut legacy costs and restructure debt.