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Orchard Supply Hardware Stores filed for Chapter 11 bankruptcy protection Monday with plans to sell itself to Lowe’s Cos., subject to higher bids at auction. Click here for the Daily Bankruptcy Review article.

Secured lenders led by Credit Suisse AG have been declared winners of an auction for the oil and gas drilling assets of ATP Oil & Gas Corp. with an offer of $690.8 million, court papers say.

Powerwave Technologies Inc. may have to lay off hundreds of employees at its factories in Thailand, India and in Europe after a lender wouldn’t allow the struggling wireless-equipment maker to spend money on its overseas manufacturing plants, according to a person involved with the case. Read the DBR Small Cap article here.

Hostess Brands Inc. announced Wednesday that it would move to liquidate its iconic baking business if striking union members didn’t return to work by Thursday evening.

A judge cleared Central Falls, R.I., to emerge from Chapter 9 protection with a plan that would forgive some of its debts and finalize cuts to its retirees’ pension plans. Read the DBR Small Cap article here.