To continue our solid history of excellence in the college bookstore marketplace, we are positioning our company to provide more industry-leading solutions to our customers. We have a solid history of excellence in our industry and expect our reputation and level of success to continue far into the future. Read the Recapitalization Newsletter
We Have Solved our Financial Issues
First and foremost are the financial aspects of our growth plan. We have reached an agreement with our largest creditors to restructure approximately $450 million in loans and bonds. This agreement solves our debt issues. Because there are many holders of our public debt, the most efficient way to implement a full recapitalization of our company is through a proceeding under chapter 11 of the United States Bankruptcy Code. While our use of the chapter 11 process may make some nervous, this recapitalization is great news for our future because it will give us the financial flexibility we need to execute our business plan. We are not liquidating; chapter 11 is simply the legal vehicle we are using to complete our recapitalization.
Our Customers Will Not be Affected
Nebraska Book Company is open for business! We are committed to serving our customers and have made sure that they will be unaffected by our recapitalization.
Promising Business Results
We should all be confident and excited about where our business is headed. Our rent-every-book model is gaining traction and we fully expect it to propel our stores. We have plenty of cash to fund operations and we have secured commitments for financing to help us navigate the recapitalization process.
Our Operations are Stronger than Ever
In addition to the court process that will address the legal and financial steps the company is taking to position for growth, Nebraska Book Company has taken operational steps to position for our future. Over the past 12-18 months, we have completed a number of projects to assist in making our organization stronger and even more profitable.
For more information, please call 1.888.369.6612.