Catalina Marketing Said to Plan Bankruptcy Filing by Year-End

Catalina Marketing, the unit of Checkout Holding Corp. historically known for doling out cash-register coupons, is preparing to file for bankruptcy before the end of the year to lighten its debt load of about $1.8 billion, according to people with knowledge of the matter.

First-lien lenders would take over a majority stake from the company’s private equity owners, the people said, asking not to be identified discussing a private transaction. A Chapter 11 filing is expected in early December, and lenders have discussed backing a new loan to support the company through the process, the people said.

Berkshire Partners and ...