Harry & David Holdings Inc. has received approval to exit bankruptcy on September 13 at the earliest.
Harry & David Holdings Inc. has received approval to exit bankruptcy on September 13 at the earliest.
The bankruptcy plan allows Medford-based Harry & David to convert around $200 million in outstanding public notes to equity of the reorganized company, along with an equity increase of $55 million. Harry & David noteholders are backstopping the $55 million raise, which the company said it expects to cover a post-petition loan. Harry & David will head into the holidays, its most profitable time of year, with an additional $100 million revolving loan.
Read more at OregonLive.com.
{biztweet}harry david{/biztweet}