Harry & David reaches deal to exit bankruptcy


Harry & David Holdings Inc. reached an agreement with its unsecured creditors, moving closer to emerging from Chapter 11 bankruptcy.

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Harry & David Holdings Inc. reached an agreement with its unsecured creditors, moving closer to emerging from Chapter 11 bankruptcy.

The committee, made up of landlords, a candy company, a printing company and the government’s pension protection agency, had opposed the plan that Harry & David had presented to exit bankruptcy, saying it provided too many benefits for its parent company Wasserstein & Co.

The agreement paved the way for Tuesday’s final court approval for the $155 million in debtor-in-possession financing Harry & David will receive, along with a $100 million in exit financing and a plan to backstop the loan with $55 million in a rights offering.

Read more at OregonLive.com.

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