Harry & David Files Reorganization Plan

lawsuit2 150x150 Harry & David Files Reorganization Plan

Harry and David Holdings Inc. has filed a joint plan of reorganization in hopes to salvage the company and exit bankruptcy, according to the Portland Business Journal.

Harry and David, a Medford-based specialty foods and gifts retailer, had been experiencing a declining revenue and ownership changes for years now, the Portland Business Journal reported.

The reorganization plan calls for the company to convert $200 million of outstanding public notes into equity in the reorganized company. The company has also secured a $100 million revolving loan commitment to finance operations once they emerge from bankruptcy.

A hearing for the official reorganization plan is expected to take place in June.

To read full article, click here:
http://www.bizjournals.com/portland/news/2011/05/23/harry-david-files-reorganization-plan.html

Related Posts:

avatar

About America Monge

Marketing Intern at Council of Better Business Bureaus, Arlington, VA.