Auto Plus expects to continue to operate its business in the ordinary course and plans to run a sale process for substantially all its assets during the Chapter 11 case.
Lumileds plans to emerge from Chapter 11 the week of Oct. 31, 2022.
The company has obtained interim approval to access up to $275 million of DIP financing.
To implement the restructuring plan, Lumileds has commenced voluntary prepackaged Chapter 11 proceedings, limited to its U.S. and Netherlands operations.
Company raises $1.3 billion of new equity from Centerbridge, Oaktree and existing stockholders.
Garrett plans to emerge from Chapter 11 by the end of April 2021.
Company targets emergence from Chapter 11 by April 30, 2021.
Company to uphold its commitments to employees, customers and suppliers during bankruptcy process.
The United States Bankruptcy Court for the District of Arizona has approved the appointment of Timothy H. Shaffer of Clotho Corporate Recovery, LLC as Bondurant’s chief restructuring officer.
Sears Holdings Files For Voluntary Chapter 11; Initiates Processes To Facilitate Financial Restructuring
The company has announced its intent to reorganize around a smaller store platform, and is evaluating the potential sale of stores, and additional store closures.
In the statement, the racing school said this was a “difficult yet important step toward becoming a stronger company.”
ATD also entered into a definitive agreement with bondholders to reduce debt by $1.1 billion through court-supervised process.