Acosta files Ch. 11 to escape $3 billion burden, reemerge fiscally healthy

//Acosta files Ch. 11 to escape $3 billion burden, reemerge fiscally healthy

Acosta files Ch. 11 to escape $3 billion burden, reemerge fiscally healthy

Jacksonville-based Acosta Inc., a national full-service sales and marketing firm, announced Nov. 8 that it will enter a "pre-packaged" Ch. 11 bankruptcy to eliminate $3 billion in debt. The deal comes with the blessing of more than 70 percent of its lenders and more than 80 percent of its noteholders. Investors have also committed $250 million in new capital. "This is a very positive development for Acosta and our employees, clients, customers and other business partners," Acosta CEO Darian Pickett…

Article by [author-name] (c) Media & Marketing News - Media & Marketing News Headlines | Bizjournals.com - Read full story here.

By | 2019-11-09T13:20:25+00:00 November 9th, 2019|Media|

About the Author: