Bankruptcy News

We've summarized the latest docket activity and news for publicly traded companies currently operating under U.S. Bankruptcy Court protection.

Bankruptcy/Chapter 11 / Food, Beverage, & Tobacco / Food & Staples Retailing / Post-Bankruptcy Stocks

Great Atlantic & Pacific Tea Company Plan, Exhibits Filed

Great Atlantic & Pacific Tea Company filed with the U.S. Bankruptcy Court a Joint Chapter 11 Plan of Reorganization. Under the updated Plan, reasonable and documented fees and expenses incurred by members of the creditors’ committee during the pendency of the Chapter 11 cases in their capacities as members of the creditors’ committee shall be allowed administrative claims in an aggregate amount not to exceed $378,500.00.The Debtors also filed the following Exhibits to the Plan Supplement: UFCW locals’ side letter with respect to ScripCo Restructuring Transactions,1199SEIU United Health Care Workers East side letter with respect to ScripCo Restructuring Transactions and a revised status chart of objections to the Debtors’ Joint Plan of Reorganization.

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More on Great Atlantic & Pacific Tea Company's bankruptcy

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Is there value in bankrupt PG&E’s stock?

In nearly every case, the shares of a company in bankruptcy become worthless. In very rare cases, however, they can become great investments. W.R. Grace (NYSE:GRA) shares produced a 75-fold return, as an example. With California utility PG&E (NYSE:PCG) now in bankruptcy, the range of possible outcomes for its equity is wide.

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EV/EBITDA: What Is It & Why Are We Using It More?

In reading recent editions of The Turnaround Letter, you have probably noticed that we are increasingly using EV/EBITDA as a valuation measure, rather than the better-known price/earnings multiple.  We thought it might be useful to describe this measure and why we like it.

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Turnaround Letter Stock Pick Named Top Performer of 2017

 

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What Last Year's Top Stock Pickers Are Buying in 2018

 

This Forbes write-up follows up on the recent Top Stock Tips report--naming The Turnaround Letter's Crocs recommendation the top performer of 2017: With 90% gains, CROX beat out 100 other investment ideas included in the report; and the stock continues to have value investing appeal, according to Putnam.

 

George notes, "We see additional upside for the stock in 2018 as management's efforts continue to bear fruit, though the gains will likely be more muted than we saw in 2017."