Mayday Mayday this is the SS Mallinckrodt we are sinking

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anonymous

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Mallinckrodt said on Tuesday it was preparing to seek bankruptcy protection for the second time in three years, after struggling to make a required $200 million settlement payment to opioid victims. The drugmaker said it was also considering other options, including a restructuring support agreement with its stakeholders.
 






anonymous said:
Mallinckrodt said on Tuesday it was preparing to seek bankruptcy protection for the second time in three years, after struggling to make a required $200 million settlement payment to opioid victims. The drugmaker said it was also considering other options, including a restructuring support agreement with its stakeholders.
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.72 cents
 






On August 15, 2023, Mallinckrodt, a prominent pharmaceutical company, disclosed a significant net loss of $747.8 million for the second quarter of this year. The company has recently engaged in discussions regarding a potential restructuring support agreement, which may involve initiating Chapter 11 proceedings. In the event that these contemplated proceedings take place, Mallinckrodt’s ordinary shares would be rendered null and void. It is worth noting that Mallinckrodt has previously emerged from Chapter 11, with the second quarter of 2022 encompassing a predecessor period starting from April 2, 2022.

:eek::eek::eek::eek::eek::eek::eek:
 












Great news folks sales are strong, culture is strong, leadership is strong and we r looking to allocate our cash for new assets. Has this place no shame. The call today was astonishing. So they lost untold Billions in stock holder value followed by not paying another 1.5 billion to lien holders followed by losing another billion in stock holder value and now they hope to not pay another 1.2 -2 billion to lien holders but when they unlock free cash by not paying their bills via bankruptcy number 2 they will in turn spend another 1/2 billion that maybe they will or won’t pay back. Bankruptcy number three coming in 2027.
 






It doesn't seem right that a company can declare 2 bankruptcies in 3 years, in particular, to avoid the opioid settlement. If it wasn't a reasonable settlement they should have never agreed. This fish should be gutted and sold for parts.
 












What liability does our previous CEO, Marky Mark, own in this debacle? Most of us will be out on the street looking for new jobs and trying to pay our bills. What once was a healthy company is now lower than dog poop!
 
















































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