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School Specialty Inc. Message Board

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  • xerox_currency xerox_currency Jan 10, 2013 1:09 AM Flag

    This will be a total wipeout of shareholders.

    You believe SCHS has a chance at acquiring a new loan? The previous loan back in May was made before SCHS was able to execute both positive ebitda and cash flow.

    Also, the forbearance was used in relation to SCHS failing to satisfy the minimum liquidity of $20MM at the end of 2012. Why not refinance with the now $3MM minimum liquidity required during this forbearance agreement?

    It would seem SCHS is able to acquire a new loan with their improving balance sheet.


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