Quiksilver Hires Restructuring Advisor
ZQK has reportedly hired Peter J. Solomon to help it find additional financing as the company struggles to turn itself around, according to Bloomberg. As of its last 10Q for the period ended Apr. 30, the company said it had cash adequate to fund it for the next 12 months. It had unrestricted cash of $48 million and working capital of $364 million against $821 million in debt. It also had $63 million in availability on two credit lines and another $7 million in restricted cash. Its primary credit facilities mature in Oct. 2016 and May 2018 and principal payments ... Log in to view full article.