Bankruptcy News

Spirit starts monthslong process of dismantling airline after biggest collapse in a generation

Spirit Airlines’ more than three-decade run ended over the weekend, but on Tuesday it was just starting the monthslong process of dismantling the company after the biggest U.S. airline collapse in a generation. Spirit and its stakeholders were in bankruptcy court in White…

April Commercial Chapter 11 Bankruptcy Filings Increase 42 Percent from Previous Year

NEW YORK/ALEXANDRIA – May 6, 2026 — The 644 commercial chapter 11 bankruptcy filings in April 2026 represented at 42 percent increase over the 454 filings recorded in April 2025, according to data provided by Epiq AACER, the leading provider of U.S. bankruptcy filing data.…

Credit Card Debt Hit $1.28 Trillion as Americans Save Less Despite Higher Incomes

Credit cards carried the load in Q4 as Americans piled another $44 billion onto their balances, pushing the total to $1.28 trillion, a 5.5% jump from last year. The New York Fed’s Q4 2025 report shows households leaning on revolving…

Private credit’s ‘zero-loss fantasy’ is coming to an end as defaults and fund exits rise

Deteriorating asset quality, collateral markdowns and a growing rush for the exits are rattling private credit markets and prompting comparisons to the Global Financial Crisis. But a spike in loan defaults, while painful, could help shake out pockets of stress…

Private credit’s cracks open door for Wall Street banks’ comeback: ‘The tug of war is just starting’

Wall Street banks may finally be getting a long-awaited opening to claw back market share from private credit lenders. After a decade in which private credit lenders grew rapidly and took over a large share of financing for leveraged buyouts,…

Trump sides with crypto firms in trillion-dollar battle with banks over stablecoin yield

President Donald Trump has thrown his support behind crypto firms in their high-stakes battle with U.S. banks over whether they can offer interest-like returns on stablecoins. Trump, in a social media post late Tuesday, ratcheted up pressure on banks to relent on the stablecoin…

Mortgage rates hit lowest level in nearly 4 years, but homebuyers are still stuck on the sidelines

Mortgage rates dropped sharply last week, and while that helped to prolong gains in refinancing, homebuyer demand seemed unimpressed. Total mortgage application volume was essentially flat, rising just 0.4% compared with the previous week, according to the Mortgage Bankers Association’s…

Saks Global gets final court approval for $1 billion bankruptcy loan after addressing vendor complaints

Feb 20 (Reuters) – A U.S. bankruptcy judge on Friday gave final approval to Saks Global’s bankruptcy financing, which provides $1 billion in new funding to the company, after Saks reached deals with luxury brand vendors that had raised concerns…

Spirit Airlines plans to slash flights, fleet in bid to emerge from bankruptcy as early as spring

Spirit Airlines is gearing up to shrink to a tiny version of its former self, focusing on high-demand travel periods and routes as well as expanding premium-class seats in an attempt to survive, according to a new plan it unveiled in U.S.…

Credit card debt tops $1.28 trillion consistent with ‘K-shaped’ economic divide, New York Fed research shows

Americans ended 2025 more in debt than ever before. Credit card balances hit a fresh high in the fourth quarter, rising by $44 billion to $1.28 trillion, according to a new report on household debt by the Federal Reserve Bank of New York released Tuesday.…