Bankruptcy Reorganization Chapter 11

Chapter 11 Notification

  • Delivers a list of chapter 11 bankruptcy filings daily, weekly, or monthly by email.
  • Subscribe to a customized Excel list, reported by jurisdiction, assets, or industry, or a full list of chapter 11 reorganization filings.
  • A filing list at your fingertips! For more information and a free trial, contact Ken today!
Bankruptcy Reorganization Chapter 11

Enter your email address:

Subscribe via feedreader


Nationwide Research Company is your source for comprehensive public records research, anywhere and anytime. From retrieval of court documents and archived records to on-site searches, we can quickly and accurately acquire the information you need.

« MTI Technology Corporation files for Chapter 11 | Main | Copper Ridge, LLC files for Chapter 11 »

October 16, 2007

Court Approves Movie Gallery Disclosure Statement

U{PDATE:  The United states Bankruptcy Court approved the debtors' disclosure statement on Feb 5.

UPDATE: Movie Gallery, Inc. submitted a Plan of Reorganization with the United States Bankruptcy Court on Saturday, December 22nd.  The Plan and accompanying Disclosure Statement call for a conversion of the $325 million 11% senior notes and other unsecured claims and $72 million of the $175 million second lien indebtedness into new equity. The Plan provides for a commitment by Sopris Capital Advisors LLC to backstop a $50 million equity rights offering to be made available to eligible 11% senior noteholders.  The debtor's first lien indebtedness and remaining second lien indebtedness would remain in place on restructured terms.  Existing shares of the debtor's common stock would be cancelled.   

Movie Gallery, Inc. and five related entities filed for chapter 11 bankruptcy protection today at the United States Bankruptcy Court in Richmond, VA.  The Alabama retailer's court filing lists almost $892 million in assets and about $1.42 billion in liabilities.  The Company is the second largest North American home entertainment speciality retailer with approximately 4,600 stores.

|

Bookmark and Share

TrackBack

TrackBack URL for this entry:
https://www.typepad.com/services/trackback/6a00e00993f99f883300e54f0cfd5d8834

Listed below are links to weblogs that reference Court Approves Movie Gallery Disclosure Statement:

Comments