The LYCRA Company has filed a prepackaged Chapter 11 case in the US to reduce about $1.2 billion in debt and strengthen its financial position.
Backed by most creditors, the restructuring is expected to conclude within 45 days.
The company has secured $75 million in DIP financing and over $75 million in exit funding, ensuring continued operations and supplier payments during the process.
Backed by most creditors, the restructuring is expected to conclude within 45 days.
The company has secured $75 million in DIP financing and over $75 million in exit funding, ensuring continued operations and supplier payments during the process.
