Spencer Platt
- Bankrupt drug retailer chain Ceremony Support (OTC:RADCQ) has reached preliminary agreements with its senior bondholders to maneuver possession to them.
- The Wall Avenue Journal additionally reported that Ceremony Support will settle a number of excellent lawsuits associated to its alleged function in the prescription opioid epidemic.
- Beneath the deal, bondholders would change their claims for 90% of the inventory in a reorganized firm, based on the newspaper. Additionally, senior lenders could be paid in full in both money or new loans.
- If granted the inexperienced mild by a chapter courtroom, the preparations would shave greater than $2B in debt.
