STG Logistics Reorganization Plan Receives Court Approval, Clearing Path to Emerge from Bankruptcy
STG Logistics has secured court approval for its Chapter 11 reorganization plan, a crucial milestone in its effort to emerge from bankruptcy. The plan received overwhelming support from its creditors and will allow the company to reduce its debt by over $400 million. This deleveraging is intended to provide a stronger financial foundation for the company's future. STG Logistics now expects to complete the process and exit bankruptcy in the first half of June, stabilizing its operations in the US intermodal and logistics market.
Official Source: https://theloadstar.com/stg-logistics-reorg-plan-receives-court-approval-clearing-path-to-emergence/
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