FAO Files Reorganization Plan

Share this article:
FAO Inc. said yesterday that it filed its plan of reorganization and disclosure statement with the U.S. Bankruptcy Court for the District of Delaware. The hearing on the adequacy of the disclosure statement is set for Feb. 28.


The company said it continues to discuss specifics of the plan with its creditors and expects changes. The plan reflects the intention to raise new equity capital to fund the reorganization and future growth, and to have equity holders remain holders in the reorganized company.


The company also said it obtained an order allowing it to continue to use cash collateral of the company's lenders to fund operations through April 4.


Share this article:
close

Next Article in Multichannel Marketing

Sign up to our newsletters

Follow us on Twitter @dmnews

Latest Jobs:

More in Multichannel Marketing

Nielsen Allies With Pointlogic on Cross-Channel Planning

Nielsen Allies With Pointlogic on Cross-Channel Planning

Aim is to develop a "next generation" media planning tool.

If Only Engendering Loyalty Was as Easy as Clicking Your Heels

If Only Engendering Loyalty Was as Easy as ...

Rack Room Shoes combines data, research, and mobile email to deliver a high-heeled digital loyalty program.

Zeta Introduces 'Cross-Lifecycle' Platform

Zeta Introduces 'Cross-Lifecycle' Platform

Zeta Hub aims to help CMOs deliver on ROI goals by extending customer lifecycles.