Some Examples of some Big Named Chapter 11 bankruptcy Case

Quiznos: On March 14, 2014, Quiznos filed for Chapter 11 Bankruptcy. Quiznos said it would continue operating while it restructured its debt and made operational improvements.[24] Quiznos emerged from bankruptcy approximately four months later on June 30, 2014, and reduced its debt by about $400 million.

Sbarro: On March 10, 2014, the chain again filed for chapter 11 bankruptcy.[15] Sbarro announced on June 3, 2014 that they exited bankruptcy protection on June 2 based on a reorganization plan that was approved by the court on May 19. As part of that plan, the company will move their headquarters from Melville, New York to Columbus, Ohio.

Loehmann’s: By the end of February 2011, Loehmann’s emerged from bankruptcy protection. New York-based Loehmann’s said it secured $45 million in financing while saying its restructuring eliminated $110 million in long-term bond debt, $14 million in interests and included $23 million in other cost reductions.

Cengage Learning Inc. (“Cengage”), a textbook-publishing company based in Stamford, Connecticut, with 5,500 employees, grabbed the brass ring for the largest public-company bankruptcy filing of 2013. Cengage filed for chapter 11 protection on July 2, 2013, in New York with $7.5 billion in assets. The filing was part of a restructuring agreement with lenders that will eliminate approximately $4 billion of its $5.8 billion in debt, much of it incurred in connection with the 2007 acquisition of Cengage by a partnership led by private equity company Apax Partners LLP.

In 2002, Exide (Milton, Georgia-based lead-acid battery manufacturer Exide Technologies (“Exide”)) filed a chapter 11 case to deal with $2.5 billion in acquisition debt. Its confirmed chapter 11 plan in that case eliminated $1.3 billion in debt.

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