H&M is bulking up its liquidity buffer as the coronavirus continues to batter fashion players across the board. In a statement, the fast-fashion retailer announced it had secured a 980 million-euro, or nearly $1.1 billion, revolving credit facility to help cushion its business amid the pandemic, which has sickened more than 1.49 million people around the world and killed at least 87,400.

Six Flags Entertainment Corporation (NYSE: SIX), the world’s largest regional theme park company and the largest operator of waterparks in North America, today announced that certain of the company’s revolving credit lenders agreed to provide an incremental $131 million of revolving credit commitments to its senior secured revolving credit facility, increasing the facility from $350 million to $481 million.1

Just what can movie seats teach us about the economic impact of a health pandemic? Consider the Chapter 11 bankruptcy of VIP Cinemas Holdings, a multinational and the world’s largest manufacturer of luxury recliner seating for movie theaters.

TAB Bank is pleased to announce it has provided a $8 million asset-based revolving credit facility for an outdoor products company based in Utah. The new facility is extended through a multi-year agreement and will provide for the company’s ongoing working capital needs.

Lassila & Tikanoja plc has signed a new revolving credit facility of EUR 30 million. The revolving credit facility will mature in the second quarter of 2022. The agreement includes a one-year extension option. The agreement was signed with Danske Bank.

Apex Parks Group, LLC ("Apex" or "Company"), today announced that it is pursuing a comprehensive financial restructuring aimed at reducing the Company's current debt and, ultimately, enhancing operations to continue to serve guests and communities for years to come. As part of this process, Apex expects to enter into a stalking horse purchase agreement ("Agreement") with the Company's prepetition secured lenders ("Lenders") to sell substantially all of the Company's assets and operations and has filed for Chapter 11 of the United States Bankruptcy Code in the District of Delaware to facilitate the sale. The Lenders will also provide financing to support the Company during the restructuring.

Heartland was advised by D.A. Davidson & Co., as financial advisor, and Hunton Andrews Kurth LLP, as legal counsel. Victory was advised by Boenning & Scattergood, Inc., as financial advisor, and Dinsmore & Shohl LLP, as legal counsel.

The debt portion of the financing consists of an initial $10 million credit facility provided by Old Hill Partners, based in Darien, Connecticut. The credit facility has an accordion feature to expand into a larger facility under certain terms and conditions.

Leading global professional services firm Alvarez & Marsal announces that Andrea Gonzalez, a Chicago-based Managing Director who joined the firm’s Disputes and Investigations practice six and half years ago, will now serve in its Unsecured Creditors’ Committee (UCC) Advisory practice. Ms. Gonzalez’s extensive accounting and investigative expertise bolsters the UCC Advisory practice’s ability to maximize value for clients amidst a turbulent economic environment.

To assist hospitals and health systems with the financial impact of COVID19, Collateral Velocity, Inc., announced today that the company has designed and alpha-tested two new financial products based on the processing of public or private medical claims. The products offer a low-cost finance alternative as hospitals brace their balance sheets for the financial fallout.

FocalPoint Partners, a leading middle-market investment bank, is pleased to announce the addition of restructuring and special situations veteran Richard F. NeJame as Managing Director in its New York office. With over two decades of experience, Mr. NeJame has advised leveraged and distressed corporate clients, as well as institutional, private equity, and other investing clients.

Ackroo Inc. (TSX-V: AKR; OTC: AKRFF) (the “Company” or “Ackroo”), a loyalty marketing, gift card and payments technology and services provider, is pleased to announce it has received an additional $1,000,000 of working capital from BDC Capital (BDC). Under the terms of the loan from BDC Capital, Ackroo received a second and final tranche of $1,000,000 from their previously approved $4,000,000 loan.

The group delivers market-leading global bankruptcy, restructuring, insolvency and distressed M&A experience in Latin America, Europe and Asia.

B. Riley Financial, Inc., a diversified provider of business advisory and financial services, today announced that Al Lieberman and Peter Lynch have joined as Principals with B. Riley Real Estate, LLC. Lieberman and Lynch each bring over 30 years of experience across the real estate value chain, as well as vast restructuring and disposition expertise, both in and out of bankruptcy.

New York-based executive has extensive experience in guiding the real estate decisions of clients in retail, multifamily, hospitality, healthcare, warehouse/industrial, and other sectors during bankruptcies and restructurings.

Hilco Global has issued a timely and relevant report on the unprecedented circumstances facing businesses and how they should adjust their existing, predictive forecasting models and the steps they should be following to ensure their own success in the current crisis environment.

The rapidly rising number of coronavirus (COVID-19) cases in the US has caused an economic slowdown in the country, which has resulted in the number and value of expected transactions being significantly reduced - largely due to a substantial fall in cash transactions, says GlobalData, a leading data and analytics company.

Coordinating Mandated Lead Arrangers and Bookrunners are Commerzbank, Danske Bank and ING Bank. Mandated Lead Arrangers and Bookrunners are: Banco Bilbao Vizcaya Argentaria, Citigroup, Commerzbank, Crédit Industriel et Commercial, Danske Bank, ING Bank, KBC Bank, SEB and UniCredit.

Global law firm Greenberg Traurig, LLP continues the strategic expansion of its world-class Restructuring & Bankruptcy Practice with the addition of Peggy Hunt and Annette Jarvis in Denver as shareholders. Jason S. DelMonico also joins as a corporate shareholder in Boston and will continue to focus a significant portion of his practice on restructuring, loan workouts and bankruptcy finance matters, in addition to corporate finance generally.

Total commercial chapter 11 bankruptcy filings for the first calendar quarter of 2020 increased 14 percent from the same period last year, according to data provided by Epiq Systems, Inc. The 1,709 total commercial chapter 11s from January 1 through March 31, 2020, increased from the 1,500 total commercial chapter 11s during the same period in 2019. Total overall commercial bankruptcy filings also increased in the first quarter of 2020, as the 9,817 during the first three months of 2020 marked a 4 percent increase over the 9,481 total commercial filings over the same period in 2019.