Quiksilver’s Bankruptcy Plan Approved

by The Editors on October 19, 2015

quiksilver-1.pngThe US Bankruptcy Court for the District of Delaware has agreed to the terms of Quiksilver’s $175 million financing deal with Oaktree Capital and Bank of America, according to a post on Just-Style.

“We are pleased to have court approval of the final DIP financing allowing our reorganisation to proceed on track as well as an additional $10m to pay pre-petition claims for critical vendors, said Pierre Agnes, CEO of Quiksilver. “We will continue to work in close cooperation with the Creditors Committee to execute our financial and operational restructuring, which is designed to restore the company to long-term financial health. We look forward to emerging from the Chapter 11 process, a stronger company better positioned to prosper into the future.”

Wonder what will be so different this time around (aside from getting out from under a bunch of debt and having a new load of cash)? We’ll all have to wait and see.

[Link: Just-Style]

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