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School Specialty Inc. Message Board

  • spencer_has_arrived spencer_has_arrived Jan 10, 2013 12:46 PM Flag

    SCHS releases statement about Forbearance Agreement

    I dont know if any body read this but it was released afterhours on tuesday.....
    School Specialty Inc. : School Specialty, Inc. Statement about Forbearance Agreement with Lenders
    01/08/2013| 05:12pm US/Eastern
    SCHOOL SPECIALTY, INC. STATEMENT ABOUT FORBEARANCE AGREEMENT WITH LENDERS January 8, 2013
    School Specialty, Inc. (NASDAQ: SCHS) is in constructive discussions with our key lenders about ways to put the company on more sound financial footing by addressing our liquidity needs and improving our balance sheet and capital structure. While we and our financial advisors are working on a long term solution to best position the company for the future, School Specialty and its lenders have entered into forbearance agreements that provide the company with access to additional liquidity and for lenders to refrain from exercising certain rights in connection with technical defaults under the company's loan agreements. As we continue these discussions and review options for making School Specialty a stronger and more financially secure company, we remain focused on providing the quality products and services that our customers and business partners expect from us.

    Sentiment: Strong Buy

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