LOS ANGELES–(BUSINESS WIRE)–California Pizza Kitchen (CPK) today announced that it has successfully completed its financial restructuring process and emerged from Chapter 11, well positioned for long-term growth. As part of its financial restructuring, CPK completed a debt-for-equity transaction, and now has a substantially reduced debt load and increased liquidity, including exit financing that provides the capital to support CPKs business and build on the companys current business momentum. Upon emergence, the company eliminated more than $220 million of existing funded debt from its capital structure and now faces no near-term debt maturities. Substantially all of CPKs equity is now held by CPKs prepetition lenders.
CPK complete…
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