Companies in the timber industry / Daily News / Global Trends / Lumber / Sawmilling / Wood Products / Global / North America
January 11, 2021
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 ...
Register for unlimited access
We work hard to bring you the latest news in the world of international wood industry. The article you are currently reading is available only to registered users.
By registering you gain access to:
- Thousands of quality articles
- In-depth analyses of market trends
- Exclusive market price insights
- And much more!