New Cases

Brookstone employees hoping to snag an

The city’s emergency manager said in federal court Thursday that he is hoping to usher Detroit out of municipal bankruptcy by mid-October, the Wall Street Journal reports.

Brookstone Holdings Corp., the specialty retailer famous for massage chairs and travel electronics, filed for Chapter 11 bankruptcy protection Thursday with a plan to sell its business to the owner of Spencer’s for $147 million. Read the Daily Bankruptcy Review article via The Wall Street Journal.

Investors who own the storied Hawk ‘n’ Dove bar and other Capitol Hill eating spots owe more than $9 million to D.C. restaurateur Xavier Cervera and his partners who sold the restaurants to them in late 2012.

During a hearing held Wednesday afternoon at the Washington, D.C., bankruptcy court, lawyers for restaurant owner Barrack’s Row Entertainment said Chapter 11 would protect the company while its leaders negotiate to lower the debt owed to the former owners.

Defunct automotive parts manufacturer Budd Co. has filed for Chapter 11 bankruptcy protection with $400 million contributed by parent ThyssenKrupp North America to fund continued retiree benefit payments until those obligations can be resolved in court. Read the Daily Bankruptcy Review article here.