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 / Commercial & Professional Services / Media / Retailing

Ritz Camera & Image Case Converted

The U.S. Bankruptcy Court issued an order converting Ritz Camera & Image’s Chapter 11 reorganization case to a liquidation under Chapter 7. The Company sought case conversion on the following grounds: “Due to the illiquid nature of the remaining assets, the Debtors have determined that the best interest of all creditors will be best served by converting…so that a chapter 7 trustee may complete the patient and orderly liquidation of the remaining assets to maximize recoveries while reducing the continuing costs of the administration of these estates.” Ritz Camera Centers emerged from a previous Chapter 11 filing in June 2010, and this privately-held photography retailer made its most recent bankruptcy filing on June 22, 2012.

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Identify & Profit from Distressed Investing

Free Report: Turnaround Investing Mistakes

Turnaround Investing Blog

Turnaround Investing Blog

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."