Cowles & Thompson, P.C.

We are pleased to be recognized again as a "Best Law Firm" for the 2025 list from Best Lawyers -- a result of the dedication of our attorneys and staff. https://lnkd.in/gtN7Htxd #gratitude #CowlesThompson #BestLawFirm

#Bankruptcy Update via Bill Siegel: > US job openings rose 232,000 to 7.740 million on the last day of January, but demand for labor is likely to soften in months ahead amid concerns that uncertainty over import tariffs & aggressive government spending cuts could cause a sharp slowdown in economic activity.  https://lnkd.in/gBHEHXR5  > Rite Aid in talks with providers of its asset-backed-loan to fully access the facility & implement its turnaround plan as it needs cash to replenish inventory and is hoping its lenders will remove the blockers that are preventing it from tapping resources available under the facility. https://lnkd.in/g2zfTGDd > Solo Brands reported “substantial doubt” about its ability to continue as a going concern, citing liquidity challenges & existing debt. Solo is exploring strategies to refinance its debt, but risks defaulting on obligations under its current credit agreement. Such an event could cause Solo Brands to liquidate or file for Ch. 11 bankruptcy protection. https://lnkd.in/gkAcQH3P > Ollie's Bargain Outlet to acquire 40 store leases from bankrupt Big Lots subject to Bankruptcy Court approval. It now has acquired 63 total former leases from the struggling retailer. Meanwhile Big Lots continues to maneuver through Ch. 11 bankruptcy via a controlled liquidation process. https://lnkd.in/gYZtrxiy > Commercial Ch. 11 bankruptcy filings decreased 42%, from 826 filings in Feb. 2024 to 481 in Feb. 2025. Total commercial filings decreased 16% from 2,576 commercial filings in Feb. 2024 to 2,152 in Feb. 2025. https://lnkd.in/eV8gTNfA > Spirit Aviation Holdings, parent company of Spirit Airlines, is emerging from Ch. 11 bankruptcy having successfully completed its financial restructuring by reducing debt by approximately $795M through a transaction that converted debt into equity. https://lnkd.in/gNV2VqeS > Forever 21 filed for bankruptcy protection for the second time in six years and blamed fast-fashion e-tailers Shein and Temu for its demise. Its international stores and website are expected to keep operating, and its brand name and other intellectual property owned by brand management firm Authentic Brands Group are not up for sale. https://lnkd.in/geMzw8nq #retail #landlords #economy

Experience. Compassion. Cowles Thompson Family Law. 👉 https://lnkd.in/gWRURKvR #FamilyLaw #Divorce #CollaborativeDivorce #ChildCustody

In April 2024, the FTC finalized a rule to ban most non-compete agreements, set to take effect in September. This rule has faced challenges in district courts, with rulings against the FTC in Florida and Texas. Appeals are ongoing in the 11th and 5th Circuits. As of March 17, 2025, the FTC’s non-compete ban is not in effect, and the FTC has appealed, but currently is prohibited from enforcing it nationwide. (Article by Casey Erick.) https://lnkd.in/gvrfJ6kG #FTC #Noncompete

Late last year, the Supreme Court of Texas issued a per curiam opinion (a unanimous opinion where the court speaks as a whole unit) in In re Euless Pizza, LP, et al., reversing the trial and appellate courts’ decisions that prevented the defendants from amending/withdrawing admissions responses. Jonathan Spigel looks at the Euless Pizza opinion -- instructive as a reminder of the effect of admissions responses, as well as the standard applied when a party needs to amend or withdraw the admission response. https://lnkd.in/g2mEckm9 #SCOTX #RFAs

Parental alienation can be devastating to kids and parents. In her recent article, Parental Alienation - Part 1, Family Law attorney Claire E. James explains the tactics that may be used, plus 5 signs of potential alienation. https://lnkd.in/gT2N8c73 #FamilyLaw #Divorce

The #Bankruptcy Update, via Bill Siegel : >Holders of asset-backed bonds issued by Hooters of America seek advice on their rights & options as the company prepares a potential bankruptcy filing in coming months. Investors in those bonds have expressed concern bankruptcy may affect or impair their holdings, which could lose value or face restructuring as part of a larger plan to address Hooters’ liabilities.  https://lnkd.in/gDY2gNR8 >Retailer Forever 21 to lay off almost 700 employees of which 350 are corporate, and will close its corporate headquarters. This is on the heels of downsizing that took place by its operating company, Catalyst, a joint venture of Sparc Group & J.C. Penney. Catalyst shareholders inc. mall REITs Simon Property Group & Brookfield, Authentic Brands Group, & Shein. https://lnkd.in/gGxDuWkh >Contracts to buy U.S. previously owned homes plunged to a record low in January as higher mortgage rates & house prices reduced affordability for prospective buyers. The National Association of Realtors reported that its Pending Home Sales Index, based on signed contracts, dropped 4.6% last month to 70.6, an all-time low. https://lnkd.in/gWFAQkes >Kohl’s has confirmed it will close 27 locations across 14 states by April 2025 as part of a broader effort to streamline operations and improve profitability. The closures come as the retail industry continues to grapple with economic challenges, shifting consumer habits, and rising operational costs. https://lnkd.in/gSEratYi >Big Lots doesn’t have enough money to pay suppliers for all goods provided during the retailer’s bankruptcy. The shortfall means suppliers who shipped tens of millions of dollars’ worth of furniture and other items are poised to be among the main losers in the chain’s Ch. 11 case. https://lnkd.in/g7dAV47k >On The Border became the latest U.S. casual-dining chain to file for bankruptcy under Ch. 11 amid surging labor costs, falling customer traffic, & inflationary pressures listing $10M to $50M in both estimated assets and liabilities. https://lnkd.in/ghw4zjry #economy #retail #landlords

Our recent newsletter: -BOI update -Can a lease rejection be retroactive - in bankruptcy? -SCOTUS & SCOTX activity -Parental Alienation -Plus - meet our newest Equity Shareholders & our Employment Law practice. READ/SUBSCRIBE: https://conta.cc/4ik0KLW #newsletter #legalupdate

ICYMI -- We are proud to acknowledge the elevation to Equity Shareholder of three accomplished attorneys: Helen Emerson, Lené Alley DeRudder, and Claire E. James. Learn more:  https://lnkd.in/gVapNcr8

Could Tesla’s Firing of a Manager Who Complained About Elon Musk’s Nazi Jokes Implicate the First Amendment? ~ via Employment Law attorney, Casey Erick https://lnkd.in/gd_u6rYm #EmploymentLaw