BKH Acquisition Corp.
BKH Acquisition Corp., through its subsidiary Caribbean Restaurants, runs more than 100 Burger King restaurants in Puerto Rico. However, the company made it on the list of a division of New Generation Research, Inc. called Distressed Company Alert. In their report, BKH Acquisition Corp got a “low rating.” In fact, S&P Global Ratings downgraded BKH Acquisition Corp’s credit rating to CCC+ on January 11, 2017, from B-. S&P only gives this rating when it deems a company to be vulnerable. Olya Naumova, a credit analyst, explained that the downgrade was mostly due to the persistent economic weakness of Puerto Rico as well as the company’s ongoing credit crisis.
BKH Acquisition Corp.
Mattress Firm
People do need mattresses. However, there’s a chance that you might not get to buy a new one from Mattress Firm any longer. On October 5, 2018, the company filed for Chapter 11 bankruptcy protection according to CNBC. Their difficulties in finances were partly because of an accounting scandal and what CNBC called “an onerous store footprint.” Mattress Firm announced that it planned to put 700 of its 3,500 stores on the market and 200 planned to cease operations just days after the bankruptcy announcement. It aims to get out of unnecessary leases and successfully restructure its business. The next company on this list also filed for Chapter 11 bankruptcy protection.
Mattress Firm
