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Berkline/BenchCraft Announces Recapitalization Plan.

Publication: PR Newswire
Publication Date: 23-MAR-07
Format: Online
Delivery: Immediate Online Access

Article Excerpt
Plan Will Exchange $40 Million of Debt for Equity and Provide $40 Million of New Financing

MORRISTOWN, Tenn., March 22 /PRNewswire/ -- Berkline/BenchCraft Holdings, Inc., ("Berkline"), a leading U.S. supplier of upholstered motion and stationary furniture, announced today that it has reached an agreement with certain of its stakeholders to recapitalize the company. The recapitalization will provide for an exchange of approximately $40 million of outstanding debt for new equity securities, as well as provide...

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