HOUSTON, Dec. 11, 2017 /PRNewswire/ — Charming Charlie (the “Company”) today announced that in continuation of its efforts to stabilize its business, the Company has entered into a Restructuring Support Agreement (“RSA”) with a majority of its Term Loan Lenders and Equity Sponsors. The RSA provides for a comprehensive financial and operational restructuring that will significantly reduce the Company’s funded debt amounts and cash debt service, establish a sustainable capital structure, and enable Charming Charlie to move forward with its previously announced Back-to-Basics strategy.
To facilitate the restructuring, the Company and its subsidiaries have filed voluntary petitions under Chapter 11 in the United States Bankrup…
Read the full article at: http://markets.businessinsider.com/news/stocks/Charming-Charlie-Reaches-Agreement-with-Majority-of-Term-Loan-Lenders-On-Terms-of-Comprehensive-Financial-and-Operational-Restructuring-1011001903