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T R O U B L E D C O M P A N Y R E P O R T E R
Saturday, October 21, 2023, Vol. 27, No. 293
Headlines
AMYRIS INC: Reports $175.07 Million Net Loss in August
BED BATH: Files August Operating Report
SVB FINANCIAL: Net Loss Widens to $59.20 Million in August
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AMYRIS INC: Reports $175.07 Million Net Loss in August
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Amyris, Inc. filed with the U.S. Securities and Exchange Commission
its monthly operating report for August 2023.
The Debtor's statement of operations showed a net loss of $175.07
million on $58.95 million of income for the period.
As of August 31, 2023, the Debtor listed $817.75 million in total
assets, $906.74 million in total liabilities, and -$88.98 million
in total shareholders' equity.
The Debtor started the month with $7.98 million cash. It listed
total receipts of $36.45 million and total disbursements of $26.23
million. Thus, at month end, the Debtor had $18.19 million cash.
A copy of the monthly operating report is available at the SEC at:
https://tinyurl.com/akyme6rw
About Amyris Inc.
Amyris (Nasdaq: AMRS) -- http://www.amyris.com/-- is a leading
synthetic biotechnology company, transitioning the Clean Health &
Beauty and Flavors & Fragrances markets to sustainable ingredients
through fermentation and the company's proprietary
Lab-to-Market(TM) technology platform. This Amyris platform
leverages state-of-the-art machine learning, robotics and
artificial intelligence, enabling the company to rapidly bring new
innovation to market at commercial scale. Amyris ingredients are
included in over 20,000 products from the worldps top brands,
reaching more than 300 million consumers. Amyris also owns and
operates a family of consumer brands that is constantly evolving to
meet the growing demand for sustainable, effective and accessible
products.
Amyris, Inc, et al. sought protection under Chapter 11 of the U.S.
Bankruptcy Code (Bankr. D. Del. Lead Case No. 23-11131) on Aug. 9,
2023. The petitions were signed by Han Kieftenbeld as interim chief
executive officer & chief financial officer.
In the petition, Amyris disclosed $679,679,000 in assets and
$1,327,747,000 in liabilities.
Pachulski Stang Ziehl & Jones LLp serves as the Debtors' bankruptcy
counsel. Fenwick & West, LLP is the Debtorps corporate counsel. The
Debtors tapped PricewaterhouseCoopers LLP as their financial
advisor, while Intrepid Investment Bankers LLC serves as the
Debtorsp investment banker. Stretto, Inc. is the Debtors' claims,
noticing, solicitation agent and administrative adviser.
BED BATH: Files August Operating Report
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20230930-DK-Butterfly-1, Inc., formerly known as Bed Bath & Beyond
Inc., filed with the U.S. Securities and Exchange Commission its
monthly operating report for August 2023.
The Debtor posted zero assets and liabilities for the reporting
period.
The Debtor started the month with $18.42 million cash. It listed
$88.11 million in total receipts and $88.08 million in total
disbursements. Thus, the Debtor had $18.46 million cash at month
end.
A copy of the monthly operating report is available at the SEC at:
https://tinyurl.com/5exu4t8e
About Bed Bath & Beyond
Bed Bath & Beyond Inc., together with its subsidiaries, is an
omnichannel retailer selling a wide assortment of merchandise in
the Home, Baby, Beauty & Wellness markets and operates under the
names Bed Bath & Beyond, buybuy BABY, and Harmon, Harmon Face
Values. The Company also operates Decorist, an online interior
design platform that provides personalized home design services.
At its peak, Bed Bath & Beyond operated the largest home furnishing
retailer in the United States with over 970 stores across all 50
states, consistently at the forefront of major home and bath
trends. Operating stores spanning the United States, Canada,
Mexico, and Puerto Rico, Bed Bath & Beyond offers everything from
bed linens to cookware to electric appliances, home organization,
baby care, and more.
Bed Bath & Beyond closed over 430 locations across the United
States and Canada before filing Chapter 11 cases, implementing
full-scale wind-downs of their Canadian business and the Harmon
branded stores.
Left with 360 Bed Bath & Beyond, and 120 buybuy BABY stores, Bed
Bath & Beyond Inc. and 73 affiliated debtors on April 23, 2023,
each filed a voluntary petition for relief under Chapter 11 of the
United States Bankruptcy Code to pursue a wind-down of operations.
The cases are pending before the Honorable Vincent F. Papalia and
have requested joint administration of the cases under Bankr.
D.N.J. Lead Case No. 23-13359.
Kirkland & Ellis LLP and Cole Schotz P.C. are serving as legal
counsel, Lazard Frares & Co. LLC is serving as investment banker,
and AlixPartners LLP is serving as financial advisor. Bed Bath &
Beyond Inc. has retained Hilco Merchant Resources LLC to assist
with inventory sales. Kroll LLC is the claims agent.
SVB FINANCIAL: Net Loss Widens to $59.20 Million in August
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SVB Financial Group filed with the U.S. Securities and Exchange
Commission its monthly operating report for August 2023.
The Debtor's statement of operations showed a net loss of $59.20
million on $7.40 million total income for August, an increase from
$58.43 million net loss reported for July.
As of August 31, 2023, the Debtor listed $3.80 billion in total
assets, $3.62 billion in total liabilities, and $173.55 million in
total shareholders' equity.
The Debtor started the month with $258.55 million million cash. It
listed $64.18 million in total receipts and $39.79 million in total
disbursements. Thus, the Debtor had $282.93 million cash at month
end.
A copy of the monthly operating report is available at the SEC at:
https://tinyurl.com/3nywb5jy
About SVB Financial Group
SVB Financial Group is a financial services company focusing on the
innovation economy, offering financial products and services to
clients across the United States and in key international markets.
Prior to March 10, 2023, SVB Financial Group owned and operated
Silicon Valley Bank, a state-chartered bank. During the week of
March 6, 2023, Silicon Valley Bank, Santa Clara, CA, experienced a
severe "run-on-the-bank." On the morning of March 10, the
California Department of Financial Protection and Innovation seized
SVB and placed it under the receivership of the Federal Deposit
Insurance Corporation. SVB was the nation's 16th largest bank and
the biggest to fail since the 2008 financial meltdown.
On March 17, 2023, SVB Financial Group sought Chapter 11 bankruptcy
protection (Bankr. S.D.N.Y. Case No. 23-10367). The Debtor had
assets of $19,679,000,000 and liabilities of $3,675,000,000 as of
Dec. 31, 2022.
The Hon. Martin Glenn is the bankruptcy judge.
The Debtor tapped Sullivan & Cromwell, LLP as bankruptcy counsel;
Centerview Partners, LLC as investment banker; and Alvarez & Marsal
North America, LLC as restructuring advisor. William Kosturos, a
partner at Alvarez & Marsal, serves as the Debtor's chief
restructuring officer. Kroll Restructuring Administration, LLC, is
the claims and noticing agent and administrative advisor.
The U.S. Trustee for Region 2 appointed an official committee to
represent unsecured creditors in the Debtor's Chapter 11 case. The
committee tapped Akin Gump Strauss Hauer & Feld, LLP as bankruptcy
counsel; Cole Schotz P.C. as conflict counsel; Lazard Freres & Co.,
LLC as investment banker; and Berkeley Research Group, LLC as
financial advisor.
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Troubled Company Reporter is a daily newsletter co-published
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