Hardinge Inc. and certain of its US affiliated firms entered into an agreement in principle with an affiliate of Centre Lane Partners to sell substantially all of the firm’s business lines’ operations and assets.
- Starting a court-supervised sale process to market-check proposals received and seek the highest or otherwise best bid
- Seeks to complete the sale process in ~50 days
- Secured approximately $30m in debtor-in-possession financing from an affiliate of Centre Lane Partners
- Voluntarily initiated chapter 11 proceedings in the Bankruptcy Court for the District of Delaware
- International entities are not part of the bankruptcy filing
- Foreign and domestic operations ...
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