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Deluxe Entertainment Services Group Files for Bankruptcy

Oct. 3, 2019, 8:34 PM

Deluxe Entertainment Services Group Inc.files for Chapter 11 protection, after previously reporting that it reached a restructuring support agreement with a majority of its senior lenders and its equity sponsor.

  • The California-based video creation and distribution company lists assets of as much as $1 billion and liabilities between $1 billion and $10 billion in its bankruptcy petition
    • NOTE: Co. is backed by Ronald Perelman’s MacAndrews & Forbes Inc.
    • Deluxe had said it expects to reduce total outstanding long-term debt by exchanging term loan for common stock
    • NOTE: MacAndrews & Forbes had said it will no longer be part of ...