🔴 LIVE: The Secrets of ProPicks AI Success Revealed + November’s List FREEWatch Now

BRIEF-BCBG filed Chapter 11 plan of reorganization

Published 2017-03-01, 01:09 a/m
© Reuters.  BRIEF-BCBG filed Chapter 11 plan of reorganization

March 1 (Reuters) - Bcbg Max Azria Group Inc

* BCBG takes next step in repositioning its brands through chapter 11 reorganization

* Has obtained a commitment of $45 million in new financing and also filed a chapter 11 plan of reorganization

* Canadian affiliate commencing separate filing for voluntary reorganization proceedings under canada's bankruptcy and insolvency act

* Certain term loan lenders during course of chapter 11 process have committed to provide new financing of up to $45 million

* DIP financing will be used for ordinary working capital purposes and to ensure normal operations during chapter 11 process

* Also taking steps to close its freestanding stores in canada, and consolidate its operations in europe and japan

* Expects to complete reorganization within six months; stores will remain open during this process Source text for Eikon: ID:nPn4hqT8ja Further company coverage: BCBGM.UL

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.