Struggling Concert Promoter SFX Looks to Restructure Debt

Concert promoter SFX Entertainment Inc. is looking at ways to restructure its debt with the help of its financial adviser, Moelis & Co. Read the Daily Bankruptcy Review story via the Wall Street Journal. SFX, which puts on concerts such as the Electric Zoo festival in New York, noted in recent regulatory filings that it may not have sufficient cash to fund its debt obligations during the next year.

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GT Advanced Technologies Inc. has lined up $80 million worth of financing to help it get out of a bankruptcy after its messy breakup with Apple Inc., the Journal reports. The equipment manufacturer was enlisted to supply sapphire screen material for Apple on a large scale, but the smartphone maker spurned GT’s offering, leaving it mired in debt.

A last-minute sale of the bankrupt Apache Railway in the rural Arizona town of Snowflake is expected to keep the 55-mile railroad operating, alleviating fears of local leaders who worried that the region’s economic lifeline would shut down, WSJ reports.

Puerto Rico Gov. Alejandro García Padilla on Monday said that he was still deciding whether to pay more than $350 million owed to investors as a Tuesday deadline loomed, in the latest twist in the U.S. commonwealth’s showdown with creditors, WSJ reports.

Moody’s Investors Service predicted that eight new casinos opening in the northeast in next three years will lead to more casino closings in Atlantic City, The Associated Press reports.

A bankruptcy judge has ordered mediation in a dispute involving Conneaut Lake Park amusement park’s bankruptcy, the Meadville Tribune reports.

Two more of Forest Park Medical Center “luxury” hospitals have filed for bankruptcy, the Dallas Business Journal reports.

B.P. Greer Recycling Inc., a North Carolina business that buys and sells scrap metal, has filed for bankruptcy, the Triad Business Journal reports.

Reach Katy Stech at [email protected]