Acosta Inc., a Jacksonville, Florida-based full-service sales and marketing agency, has successfully completed its financial reorganization and recapitalization and emerged from Chapter 11 less than a month after filing. Through the process, Acosta eliminated all of its approximately $3 billion of long-term debt, and its new investors have funded $325 million in new equity capital. The reorganized company’s largest […]
Tag: reorganization
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Tops Markets Emerges From Chapter 11 Reorganization
Tops Markets LLC has successfully completed its financial restructuring and emerged from Chapter 11. The company, which reorganized with the support of its secured creditors and the Official Committee of Unsecured Creditors, says it is emerging with “enhanced financial flexibility and (is) well positioned for long-term success,” adding that it will invest in its stores […]
Posted in, Northeast
Bankruptcy Judge Confirms Fairway Group Holdings Reorganization
Bankruptcy Judge Michael E. Wiles last week accepted the reorganization plan of Fairway Group Holdings Corp., parent company of Fairway Market of New York City. Fairway is expected to emerge from bankruptcy during the week of June 20, with approximately $50 million in cash, a substantial reduction of its debt by $140 million and a […]