Klausner Lumber One LLC says it needs approval of a $2 million loan to protect a shuttered Florida sawmill it hopes to sell out of bankruptcy.
The Live Oak, Fla., lumber company is seeking to fund a Chapter 11 sale process with debtor-in-possession financing provided by Big Shoulders Capital VI LLC and CRG Acquisition LLC, it said in a May 8 filing with the U.S. Bankruptcy Court for the District of Delaware.
The company was forced to shut down in March amid a downturn in business related to the Covid-19 pandemic.
The financing “is absolutely critical to maintaining the value ...
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