STG Logistics Gains Court Approval for Reorganization Plan, Set to Emerge from Chapter 11
A US bankruptcy court has approved the reorganization plan for STG Logistics, a major provider of port-to-door supply chain services. This key approval paves the way for the company to emerge from Chapter 11 bankruptcy protection, which it entered in early February. The restructuring was necessitated by challenges following the acquisition of XPO's intermodal business. With the plan confirmed, STG has secured new financing, including a credit facility and term loan, significantly improving its liquidity. The company anticipates officially exiting bankruptcy in early June, positioning it on a much stronger financial footing.
Official Source: https://theloadstar.com/stg-logistics-reorg-plan-receives-court-approval-clearing-path-to-emergence/
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