Below is our initial take on recent bankruptcy-related developments:
Alex Jones’ Infowars will go up for sale yet again, judge rules | CNN Business
The Onion is set to revive its bid on Jones’s outlet and its assets after a federal judge halted the sale in December.
S&K Take: Some serious twists and turns in this saga, which is more of a novelty than a serious restructuring case (although certainly feel for the plaintiff-families that have a billion-plus judgment against Jones). Last we left this, Judge Lopez had denied a sale of Free Speech Systems LLC’s assets to the Onion. Judge Lopez determined that the sale was better addressed by a state court. Now, a Texas country district court has sent the company to a receivership, with the receiver directed to market the assets. Most are speculating that the Onion will get another bite at the apple. Rest assured though, Jones will do what he can to muck up any potential sale.
Spirit Airlines raises going-concern doubts, months after exiting bankruptcy | Reuters
Having exited bankruptcy in March, the airline’s shares fell 42% on Tuesday after it warned that weak domestic demand and shrinking cash reserves are straining its operations.
S&K Take: The Spirit Airlines plan went effective on March 12. Fast forward 5 months and S&P has downgraded the airline based on its new 10-Q, which reports that the company has significant liquidity concerns. Are we looking at the next chapter 22? Based on the reports, stakeholders are looking into liquidity solutions, but things sound very preliminary for now. Will spare the reader any reference to airlines and headwinds.
US bankruptcies are surging past 2020 pandemic levels | Business Insider
S&P 500 data shows that last month, corporate bankruptcy filings reached their highest levels since 2020, showing an increase from June 2025.
S&K Take: The numbers lag on this a little (and anecdotally August has felt on the slow side, although that is generally true with a lot of folks taking vacation) but restructuring has been busy in 2025. Interesting to see how the rest of the year breaks down, although with uncertainty and unpredictability in the general markets, that usually bodes well. There are definitely sectors that will experience pain, particularly with the effects of tariffs crystallizing as the year progresses. Guess is that readers will be busy come September.
