EveryWare Global, Inc. announced today that it has successfully completed its financial restructuring and has emerged from Chapter 11. The company noted that it exits the restructuring process with a significantly reduced debt load and strengthened balance sheet.
“Thanks to tremendous support from our customers, employees, suppliers and business partners, we have completed a significant balance sheet restructuring,” said Sam Solomon, president and CEO, EveryWare Global.
“We exit the bankruptcy process completely focused on creating value for our customers and partners,” continued Solomon.
The company’s exit financing includes a $70 million asset-based revolving credit facility and a $40 million term loan provided by a group of EveryWare’s post-petition lenders.
“Our lenders’ willingness to support the company is a crucial component of our successful emergence, as well as a reflection of their confidence in our long-term prospects,” said Solomon.