Pool and spa retailer Leslie's filed Chapter 11 after adjusted EBITDA fell from $292M to $61M in three years, leaving its $757M term loan unsustainable. The plan cuts over $685M of debt and hands the company to the term lenders who will fund a $90M DIP and a $60M equity infusion at emergence.
Brightline's holding companies filed Chapter 11, keeping the Miami–Orlando railroad out of court. An RSA with Assured and mutual funds would fund it and leave muni principal intact; the main Parent Notes group isn't a party. The Debtors cite heavy leverage and below-forecast ridership and fares.
AirBaltic, Latvia's majority state-owned airline, filed for Chapter 11 after engine shortages grounded aircraft, lost Russian and Ukrainian routes cut revenue and a 2026 jet fuel spike drained liquidity; it plans to return about 20 surplus aircraft and reprofile its remaining leases.
PGR Lessee I and 18 affiliates filed for Chapter 11 after a New York court ordered nine of the debtors to post $30.2 million of collateral under a surety indemnity agreement they say was signed without authority, and will pursue a restructuring that may include a sale of their 17 solar projects.
LIV Golf filed for Chapter 11 after PIF ended equity funding for the loss-making league, entering with an RSA for a $300 million BC Partners-anchored investment in a restructured "LIV 2.0," with the cases funded by a $49.6 million PIF DIP facility and an orderly wind-down as the alternative.
Noble Supply & Logistics, a longtime U.S. government supply and logistics contractor, filed for Chapter 11 after DLA contract non-renewals, a capital-intensive ramp-up and a government shutdown drained liquidity, pursuing a dual-track going-concern sale or orderly wind-down.
BioXcel Therapeutics filed for Chapter 11 after its sole approved product, IGALMI, never reached commercial scale and revenue could not support roughly $112 million of secured debt, pursuing a 363 sale to stalking horse Teva for $57.5 million cash plus up to $67.5 million in milestone payments.
BFG Supply, a lawn, garden and greenhouse products distributor, filed for Chapter 11 after sales force turnover drove customer attrition and suppliers tightened trade credit, pursuing a going-concern sale alongside an already-underway inventory liquidation, funded by a DIP facility of up to $55M.
Braskem Idesa, the Mexican petrochemical joint venture behind the Etileno XXI complex, filed for Chapter 11 after Pemex ethane shortfalls forced costly imported feedstock amid a prolonged downcycle, with an RSA backed by ~79% of secured debt to cut funded debt by over $920 million.
777 Partners, 600 Partners and affiliates filed for Chapter 11 after a two-year wind-down of their investment platform, amid lender fraud litigation, SEC and criminal proceedings, and an involuntary petition. The Debtors are seeking a $24.95 million DIP facility from existing lenders.
TSI Tower Services Files Chapter 11 in District of Arizona
ECD Auto Design Files Chapter 11 in Middle District of Florida
Leslie's Pool Supplies Files Chapter 11 in Southern District of Texas
InEnTec Files Chapter 11 in Eastern District of Washington
Schwab Road BSD Files Chapter 11 in Eastern District of New York
Brightline Files Chapter 11 in District of New Jersey
Vineburg Files Chapter 11 in Northern District of California
UPG Enterprises Files Chapter 11 in Northern District of Illinois
House Canary New Jersey Files Chapter 11 in District of New Jersey