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 / Healthcare Equipment & Services

Physiotherapy Holdings Plan Effective

Physiotherapy Holdings’ Joint Prepackaged Plan of Reorganization became effective, and the Company emerged from Chapter 11 protection. The Court confirmed the Plan on December 17, 2013. According to documents filed with the Court, “The...prepackaged chapter 11 plan of reorganization...will achieve the Debtors’ restructuring goals by (a) reducing the Debtors’ total funded indebtedness (including interest) by approximately 62%, from approximately $375 million as of October 10, 2013 to approximately $144 million (b) providing the Debtors’ with reasonable, long term financing and access to incremental commitments that will enable the Debtors to support their go-forward business needs and (c) providing for the establishment and funding of a litigation trust to consolidate and coordinate prosecution of certain claims and Causes of Action of the Contributing Claimants.” This outpatient rehabilitative services’ provider filed for Chapter 11 protection on November 12, 2013, listing more than $500 million in pre-petition assets.

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Identify & Profit from Distressed Investing

Free Report: Turnaround Investing Mistakes

Turnaround Investing Blog

Turnaround Investing Blog

Turnaround Investing Philosophy: 32 Years Later, Some Things Never Change

Recently I was asked how my investing perspective changed over the 32 years of publishing The Turnaround Letter. It's a fascinating question because change is constant, and often beneficial (although that's not a given) in the business world. If change is the norm, can investing principles stay constant? I firmly believe that they can. Read More.

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."