Halfway through the year and we had triple digits in our sights. But an improving economy and flexible lenders may keep keep the PE-backed bankruptcy list from topping 100.
In the month of November, saw just five bankrupt portfolio companies, a slight drop from October’s . We’ve long crossed last year’s total of 49, but unless things really fall apart in December, we’re not going to double that number.
Newcomers to the list of money-losers include Wind Point Partners, MatlinPatterson,Genstar, MSouth Equity Partners, and Sterling Group.
We also added THL Partners’ storied investment in Simmons, which finally found its way into the restructuring courts. That, as we all know thanks to extensive coverage by the New York Times, isn’t actually a money-losing deal. But it is THL’s second bankruptcy this year; the firm last month lost its investment in Nortek. Bruckmann Rosser also joins the two-timer list with its bankruptcy of Lazy Days RV. Earlier this year the firm saw its tomato company Eurofresh collapse into bankruptcy.
Download the entire spreadsheet here: peHUB LBO-Backed Bankruptcies November 09 (2)
- LBO-Backed Bankruptcy List: On Pace to Double Last Year’s Total
- Five More Bankrupt Companies That Earned Their Private Equity Backers a Return
Ed. Note: This story was updated to reflect an additional bankruptcy.