Lycra to Restructure Under Prepackaged Bankruptcy
The Lycra Company LLC, parent CCS Holding, and two dozen affiliated debtors filed voluntary Chapter 11 petitions in the S. TX federal bankruptcy court, including a prepackaged plan of reorganization backed by secured lenders. It blamed recent industry headwinds, combined with a highly leveraged capital structure, for the filing. Lenders agreed to reduce Lycra’s debt load by about $1.2 billion and provide $75 ... Log in to view full article.
