Standard Register Files for Bankruptcy
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Debts include about $184 million in loans from its 2013 acquisition of WorkflowOne LLC, according to The Wall Street Journal [subscription required].
Its existing lenders have agreed to extend $155 million in financing in the form of a debtor-in-possession credit facility, which should provide liquidity to facilitate the sale process and to fund operations, according to Standard Register. It expects to obtain court authorization to continue to support business operation, which includes paying employee wages and benefits. It also expects to pay suppliers under normal terms for goods and services provided today and in the future.
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