The agreement additionally includes $165 million in new equity investments from a fund managed by the private equity group of Guitar Centers controlling owner Ares Management Corporation (which acquired a majority stake in the company in 2014), new investor Brigade Capital Management, a fund managed by The Carlyle Group and other lenders. The company says…
An attorney in the bankruptcy case of CBL & Associates Properties Inc. said Monday that the Chattanooga-based mall operator is taking care of its centers as it moves into the holidays. “This company has been managing these properties for decades,” said CBL attorney Ray C. Schrock. “We’ve been able to keep operating and move onto…
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…
CHICAGO, Nov. 23, 2020 /PRNewswire/ — Ryan Preston Dahl has joined Ropes & Gray as a partner in its Chicago and New York offices. Ryan expands Ropes & Gray’s business restructuring team, which represents clients in a broad range of financial restructuring matters, including in- and out-of-court proceedings. “Ryan is a great addition to the…
Motherson Sumi Systems said that it is targeting $36 billion in group revenues by FY25E, including 25 per cent contribution from non-automotive space TopicsMotherson Sumi Systems|Buzzing stocks|Markets SI Reporter | Mumbai Last Updated at November 23, 2020 13:39 IST Shares of Motherson Sumi Systems (MSSL) advanced 5 per cent to Rs 146.30 on the BSE…
By Wayne Robinson | 20 November 2020 Print giant Ovato has passed the first hurdle in its restructuring plan, gaining court approval to present its plan to take the company forward from its current difficulties to its creditors and members, with a vote in a fortnight’s time. Rescue plan for Ovato: Michael Hannan and Kevin…
Kate Nicholls of trade body UKHospitality says that the sector is facing a “tough winter”, with businesses needing “enhanced grant support to keep venues alive and a solution to the ongoing rent debt problem that continues to linger over the sector”. Of course, the impact is not even across all parts of the market. While…
FORT WORTH, Texas–(BUSINESS WIRE)–FTS International, Inc. (NYSE American: FTSI) (FTSI or the Company) today announced that it has successfully completed its fully consensual financial restructuring and has emerged from Chapter 11. Michael Doss, Chief Executive Officer, commented, Today is an important day for FTSI. We have quickly and efficiently completed our financial restructuring and emerge…
ST. PETERSBURG, Fla.–(BUSINESS WIRE)–iQor (the Company), a managed services provider of customer engagement and technology-enabled BPO solutions, announced today that the Company and each of its U.S. subsidiaries have emerged from Chapter 11 bankruptcy, signaling the completion of the financial restructuring process. The Companys Pre-Packaged Plan of Reorganization was confirmed by the United States Bankruptcy…
FORT WORTH, Texas–(BUSINESS WIRE)–Nov 19, 2020– FTS International, Inc. (NYSE American: FTSI) (FTSI or the Company) today announced that it has successfully completed its fully consensual financial restructuring and has emerged from Chapter 11. Michael Doss, Chief Executive Officer, commented, Today is an important day for FTSI. We have quickly and efficiently completed our financial…