Restructuring Report
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Restructuring Report
January 5, 2026 - Artist and Craftsman Supply, Luminar Technologies, FlexShopper, Buddy Mac Holdings
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This episode covers key developments in four major restructuring and bankruptcy cases:
Artist & Craftsman Supply files for Chapter 11 in Maine just before the holidays, seeking court approval to continue operations, pay employees and vendors, and honor $715,000 in outstanding gift card balances to sustain its 18-store art and craft retail business.
Luminar Technologies proposes a $110 million liquidation plan following its December bankruptcy filing, with a semiconductor subsidiary sale to Quantum Computing Inc. and a structured payout order that leaves existing equity holders with nothing.
FlexShopper enters Chapter 11 after uncovering over $140 million in CEO and CFO fraud involving improper borrowing, lining up a stalking-horse sale for assets while arranging DIP financing to support the ongoing sale process.
And a secured creditor moves to force Buddy Mac Holdings into liquidation, claiming the rent-to-own furniture retailer is self-liquidating without a viable reorganizational strategy as cash collateral timelines expire.
💡 From retail struggles and tech liquidation plans to executive fraud fallout and creditor-led conversion efforts, this episode sheds light on how diverse challenges are driving the latest wave of U.S. bankruptcies and restructuring actions in early 2026.
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