As previously announced, the Plan will decrease overall debt levels by approximately $600 million (including $522 million of debt exchanged for equity in the reorganized Company) and strengthen the Company’s balance sheet, allowing SEG to invest in the business to further support its financial health and long-term success.
Anthony Hucker, President and Chief Executive Officer of SEG, said, “We are delighted with the Court’s swift approval which marks a major milestone in the transformation and correction of our business. This confirmation paves the way for us to emerge as a strong, viable business that is well-positioned to succee…
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