Magnatrax emerges from Chapter 11

New York, Jan. 20 - Magnatrax Corp. said it emerged from Chapter 11.

Under the company's restructuring, $100 million of debt was converted into virtually all the equity of the reorganized company.

Magnatrax also obtained a $25 million line of credit to fund its operations.

The Alpharetta, Ga. company also restructured its business with an increased focus on its core pre-engineered buildings and components businesses and on providing industry-leading builder support programs. Its Republic Builders Products Co. and Windsor Door, Inc. subsidiaries were sold to Desco Capital Partners.

The Chapter 11 case was conducted in the U.S. Bankruptcy Court for the District of Delaware.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.