The expiration of a popular US law on Friday has tightened bankruptcy rules for mid-sized and small businesses.

Rite Aid is closing more than 20 US stores, according to court documents filed this week in its federal bankruptcy case.

Spirit Airlines CEO reassured that they are not considering Chapter 11 bankruptcy following the collapse of its acquisition by JetBlue Airways.

Red Lobster has filed for Chapter 11 bankruptcy protection, citing high operational costs and an unprofitable unlimited shrimp promotion. It plans to transfer control to its lenders with $100 million in financing from Fortress Investment Group.

Genesis Global, a bankrupt crypto lending firm, has been allowed by a court to return approximately $3 billion in cash and cryptocurrency to its customers.

Air Vanuatu has filed for bankruptcy protection after it canceled all its international flights, which left thousands of passengers stranded.

The plan, pending court approval, details that almost all customers will be reimbursed the funds they are owed, with some receiving amounts exceeding their original claims.

Red Lobster, which used to be a seafood giant, is on the brink of bankruptcy due to managerial missteps that started in 2003 with no recovery decades later.

Joann Fabrics, a stalwart in the industry for 80 years, faces bankruptcy due to overwhelming debt. However, with new financing, it aims for a swift restructuring to maintain operations.

Fisker's stock fell over 40% in after-hours trading on Wednesday, raising investor concerns about the EV company's future.