Jason Industries Commences Solicitation of Prepackaged Plan of Reorganization and Files Chapter 11
JASON INDUSTRIES (JASN)
Last jason industries earnings: 5/2 08:00 am
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Source: Business Wire
Business Continues Delivering Leading Solutions and Service to Customers Without Interruption MILWAUKEE--(BUSINESS WIRE)--Jason Industries, Inc. (OTCQX: JASN) (“Jason” or the “Company”) today announced that it is taking two important steps in its previously announced comprehensive restructuring plan that, once completed, will deleverage the Company’s balance sheet by $250 million. The Company expects its day-to-day operations to continue without interruption and without disruption to its employees, customers, suppliers and vendors.Jason previously entered into a restructuring support agreement (the “Agreement”) with holders of approximately 87 percent of its first lien debt that, pursuant to the terms of the Agreement, will ultimately delever the Company’s balance sheet by $250 million and position Jason for future success. All parties to the Agreement determined that the best way to implement the terms of the Agreement is through a prepackaged chapter 11 plan of reorganization (th
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