Recently, Briggs and Stratton Corporation, a small engine manufacturer, has filed for bankruptcy in the US Bankruptcy Court for the Eastern District of Missouri. The manufacturer has plans to sell its assets for $550 million to KPS Capital Partners LP, an investment company. However, Briggs and Stratton planned for their $677.5 million of ‘debtor-in-possession’ funding to help finance the operations during the bankruptcy filing. KPS agreed to help with $265 million as part of the restructuring.
Thinking about filing for bankruptcy? Contact our office at 816-524-4949 or you can visit our website at hoorfarlaw.com to schedule an appointment.