STG Logistics Gets Bankruptcy Restructuring Plan Approved

Freight transportation supply chain company STG Logistics Inc. receiving court approval to exit bankruptcy through a debt-slashing plan backed by Fortress Investment Group and Invesco Senior Secured Management Inc.

Judge Mark E. Hall of the US Bankruptcy Court for the District of New Jersey said Monday he would approve STG’s plan to exit bankruptcy by cutting more than $1 billion in secured debt and injecting the firm with up to $150 million in fresh financing.

“I wish the company the best of luck as it moves forward,” Hall said.

The multimodal transportation company reached a deal to wrap ...