Share

News

Breaking News – Quiksilver meldet Konkurs an

Even giants will fall
Even giants will fall

Nach einem gerade erschienenem Press Release hat der Action-Sport Gigant Quiksilver in den USA Konkurs angemeldet – und zwar ‚Chapter 11 bankcurptcy‘, was bedeutet, dass sie die US Seite des Business mit der Hilfe von Oaktree Capital Management umstrukturieren. 175 Millionen $ um genau zu sein.

Obwohl das Nicht-US Business und die Tochtergesellschaften der Firma gut laufen, haben die US-Geschäfte in den letzten Jahren gelitten, der Marktwert ist allein dieses Jahr um fast 80% gesunken.

Was passiert jetzt mit Ridern wie Travis Rice? Da werden wir wohl warten müssen – obwohl Mervin Manufacturing in 2013 verkauft wurde, betrifft das weder Lib Tech noch Gnu.

 

Es gibt aber gute Neuigkeiten: die Quiksilver Shares sind momentan auf 10 Cent gepreist. Wer schnappt sich da was?

Mehr Infos folgen aber für derweil ist hier der Anfang ihres eigenen Press Releases, den Rest findet ihr hier:


 

Quiksilver, Inc. (NYSE:ZQK) (the “Company”) today announced that it commenced voluntary proceedings for relief under chapter 11 of the United States Bankruptcy Code in theUnited States Bankruptcy Court for the District of Delaware (the “Bankruptcy Court”) for its U.S. subsidiaries. The chapter 11 filing, which is supported by 73% of the Company’s senior most class of debt, will facilitate Quiksilver’s financial and operational restructuring, which is designed to restore the Company to long-term financial health.

The Company’s European and Asia-Pacific businesses and operations remain strong and are not part of this filing. Additionally, holders of the Company’s Eurobonds sufficient to waive any technical default arising from the filling have agreed to allow the Company to reorganize its U.S. operations in chapter 11.

Following the filing, Quiksilver will continue to operate in the ordinary course of business as a “debtor-in-possession” under the jurisdiction of the Bankruptcy Court. Contemporaneously with the filing, the Company has requested that the Bankruptcy Courtapprove $175 million in new debtor-in-possession financing („DIP“) with affiliates of Oaktree Capital Management, L.P.(“Oaktree”) and Bank of America, N.A. The Company anticipates that such financing, in conjunction with other existing sources of liquidity, will be more than sufficient to fund its ongoing operations in the U.S. and abroad. The Company also requested various forms of “first day” relief from the Bankruptcy Court to ease the U.S. subsidiaries’ transition into chapter 11 and protect its stakeholders and customers.

The Plan Sponsor Agreement (“PSA”) with Oaktree provides a comprehensive blueprint for the Company’s emergence from chapter 11 as a going concern pursuant to a plan of reorganization, under which Oaktree has agreed to provide all necessary funding for the chapter 11 process and will convert its substantial debt holdings into a majority of the stock in the reorganized Company on exit. The PSA contains certain conditions, including confirmation of a plan of reorganization by the Bankruptcy Court.

Oaktree is a leader among global investment managers specializing in alternative investments, with over $100 billion in assets under management. The firm, which emphasizes a value-oriented and risk controlled approach to investments, has a proven track record of success assisting companies through the restructuring process and in the action sports industry.

Share

Geschäftsbedingungen

Gib bitte deine Email Adresse an, damit wir dich mit News, Updates und den neuesten Angeboten versorgen können. Falls du nicht mehr interessiert bist, kannst du dich jederzeit abmelden. Wir geben deine Daten nicht an Dritte weiter und werden dir nur Nachrichten schicken, die dich auch interessieren. Versprochen!

Read our full Privacy Policy as well as Terms & Conditions.

production