Hearthside Files for Chapter 11 Bankruptcy in Texas

H-Food Holdings and some affiliates, known as Hearthside, filed for Chapter 11 in US Bankruptcy Court for the Southern District of Texas.

• Restructuring will allow Hearthside to shed more than $1.9b of debt and secure $200m of new equity capital at exit
• Seeking court approval of $300m of debtor-in-possession financing, including $150m of new money from existing lenders
• Plans to emerge from Chapter 11 in 1Q
• Interbake Canada operations aren’t part of the Chapter 11 filing
• NOTE: Snack Maker Hearthside Prepares to File for Bankruptcy

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