CTI Foods Says Reorganization Plan Gets Court Approval
April 18 2019 - 6:04PM
Dow Jones News
By Stephen Nakrosis
CTI Foods said Thursday the U.S. Bankruptcy Court for the
District of Delaware confirmed its plan of reorganization.
The company said it anticipated emerging from chapter 11 in the
coming weeks.
As reported earlier, the plan would see Goldman Sachs & Co.
(GS) and Thomas H. Lee Partners give over nearly full control of
CTI to its first-lien lenders. The plan would result in $406
million of debt being taken off the company's books.
CTI is a supplier to the food-service and restaurant
industries.
CTI said it was operating as usual, and that its facilities and
distribution centers remain open and are fulfilling orders.
--Write to Stephen Nakrosis at stephen.nakrosis@wsj.com
(END) Dow Jones Newswires
April 18, 2019 17:49 ET (21:49 GMT)
Copyright (c) 2019 Dow Jones & Company, Inc.
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