***As you may have guessed by now, my two favorite things to write about are consumer/retail companies and bankruptcies. (When a consumer/retail company goes bankrupt, it’s like Christmas.) With that in mind, I was happy to read on Dealscape that I have no shortage of bankruptcy filings to cover—the first half of August has seen twice as many bankruptcy filings the same period last summer. Thank God, because this summer has certainly seen a slowdown in deals to cover.
***The minute I finished that sentence, Mrs. Fields Famous Brands (backed by Capricorn Investors) filed for bankruptcy. Ask and ye shall receive? That seems a bit too grim, even for me. Best of luck on your DIP financing, Debbi Fields.
***Long but funny—Harbinger’s race to block an acquisition in Ohio may benefit from unusual anti-takeover and anti-arb laws in the state. Deal Professer takes an in-depth look.
***Today in making a round of calls I learned that many of my old sources were no longer at their posts, and not on vacation. People are getting fired (old news, I know, but this was my first firsthand experience of it). Bloomberg has updates on their whereabouts, which involves making cupcakes (via Dealbreaker).