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Headway Corporate Resources, Inc. Announces Restructuring Agreement.

Publication: Business Wire
Publication Date: 01-JUL-03
Format: Online
Delivery: Immediate Online Access

Article Excerpt
Business Editors

NEW YORK--(BUSINESS WIRE)--July 1, 2003

Headway Corporate Resources, Inc. (AMEX: HEA) announced today that it has reached an agreement with the holders of its senior and subordinated indebtedness for a restructuring of the Company. The restructuring will involve a significant reduction of outstanding indebtedness and a conversion of the balance of such indebtedness into 100% of the Company's equity. The transaction is being implemented pursuant to a Chapter 11 bankruptcy proceeding of...

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