Home Decoration Retailer is trying to eliminate bankruptcy debt
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Home Group filed for bankruptcy to help home decor retailers undergo restructuring.
The company announced it was launched on Monday. Chapter 11 Bankruptcy Procedures Therefore, we will allow you to implement a “restructuring support agreement” signed with a lender that “holds more than 95% of the company’s debt.”
Restructuring support contracts are useful Retailers He said it would wipe out “virtually everything” of nearly $2 billion in funded debt at home. It also injects retailers $200 million in capital.
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“The steps we’re taking today to make our balance sheet fully leverage will improve our ability to compete in the market in the face of continuous volatility and increase business resilience,” CEO Brad Weston said.