Isagenix Plans Restructuring Deal That Gives Investors Control

Dietary supplement company Isagenix International LLC reached a restructuring agreement with certain creditors that would cut $130 million in senior secured debt and hand investors control of the business, according to a statement Monday.

• The plan also calls for founders Jim and Kathy Coover to contribute $95 million in cash and debt forgiveness
  • They will maintain minority ownership
• The company and its advisers will begin soliciting creditor support for the agreement in the coming weeks
• “The plan we’ve outlined with our investors will establish a strong financial foundation for our company, enabling us to continue to do what we do ...