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TRUCKING INDUSTRY NEWS * USA - Troha trucking firm restructures under Chapter 11
Milwaukee,WIS,USA -The Business Journal of Milwaukee -June 25, 2008: -- JHT Holdings Inc., a trucking holding company once owned by convicted Kenosha businessman Dennis Troha, said Wednesday that it reached agreement with its lenders to restructure its balance sheet through a voluntary, pre-negotiated Chapter 11 reorganization... Under the proposed plan, outstanding bank debt will be reduced by more than 40 percent and annual cash interest expense will decrease by more than 50 percent. To supplement its liquidity position, the company has arranged for debtor-in-possession financing of up to $25 million, from members of its current lender group... The reorganization plan anticipates another $35 million in additional financing upon emergence from Chapter 11 to provide for the long-term success of the company...
Labels: trucking industry news USA
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