Business travel firm CWT said it will file for bankruptcy in a pre-arranged deal to enact a restructuring
“We plan to use a ‘pre-packaged’ court-supervised process to implement the agreement on an expedited basis in the coming weeks while we continue operating normally,” a representative for the company said in a statement to Bloomberg.
Earlier this month, the company reached a restructuring agreement with creditors that will let it cut debt while receiving an equity infusion from existing investors.
Firms including