McClatchy Company (MNI) Commences Voluntary Chapter 11
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McClatchy Commences Voluntary Chapter 11, While Soliciting Support for Plan of Reorganization
February 13, 2020 5:28 AM ESTNEW YORK, Feb. 13, 2020 /PRNewswire/ -- McClatchy Co. (NYSE American-MNI) today announced it has commenced a voluntary restructuring under Chapter 11 of the U.S. Bankruptcy Code following the solicitation of a Plan of Reorganization ("the Plan") among its key stakeholders. The Chapter 11 filing provides immediate protection to the Company, which will continue to operate in the ordinary course of business as it pursues approval of the restructuring plan with its secured lenders, bondholders, and the Pension Benefit Guaranty Corporation (PBGC).
McClatchy and each of its 53 wholly owned subsidiaries filed their voluntary Chapter 11 petitions in... More
