McClatchy gets a month reprieve in restructuring negotiations

//McClatchy gets a month reprieve in restructuring negotiations

McClatchy gets a month reprieve in restructuring negotiations

Newspaper publisher The McClatchy Co. said Wednesday it has negotiated for more time to work out a payment plan for a pension obligation payment that was due today. Under a standstill agreement, the Pension Benefit Guaranty Corp. has agreed to a forbearance period until Feb. 18, McClatchy said in a news release. In November, McClatchy reported it was facing a liquidity crisis because its employee pension plan was underfunded by $535 million. Since then it has been in restructuring negotiations…

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By | 2020-01-15T23:09:38+00:00 January 15th, 2020|Media|

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