The company’s existing lenders have agreed to continue to support the company by providing debtor-in-possession (DIP) financing that will be combined with its cash from operations to ensure and support continued business operations.
“Beaulieu family members and our board of managers believe pursuing a restructuring through chapter 11 is the best path forward at this time,” said Michael Pollard, President of Beaulieu Group LLC. “We have evaluated alternatives to address Beaulieu’s capital structure, and believe that restructuring through the chapter 11 process will best position all of Beaulieu Group LLC’s businesses for future success.”
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