WorkflowOne Announces Plan of Reorganization, Expects to Emerge from Bankruptcy This Week
Anticipates emergence from Chapter 11 on or about March 2
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"We are grateful for the continuing support of our employees, business partners and customers, as well as that of our new ownership group, which is committed to our long-term success," Davis said.
Under the plan, the company's total debt will be reduced by approximately $149 million, and its cash debt service will be reduced by approximately $50 million annually. The new capital structure provides material relief through lower amortization and cash interest payments, positioning WorkflowOne to invest in its future for the benefit of its customers.
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