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Companies in the timber industry / Daily News / Global Trends / Lumber / Sawmilling / Wood Products / Global / North America
January 11, 2021

Northwest Hardwoods’ bankruptcy approved

Northwest Hardwoods’ bankruptcy approved
Global lumber supplier Northwest Hardwoods secured a Delaware bankruptcy judge's approval last Wednesday to immediately put its Chapter 11 reorganization into effect, after a more than six-week sprint through the nearly $450 million debt restructuring.    The company entered Chapter 11 with what Judge Shannon said was effectively a prepackaged bankruptcy. Debtors had already lined up a restructuring that would shed about $270 million of the company's debt, largely through a debt-for-equity swap with noteholders.    In a declaration filed in advance of the hearing, Northwest president and chairman ...

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