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Haights Cross reaches agreement on debt restructuring

August
21

Haights Cross Communications Inc., a White Plains-based library and educational publisher, said that it has reached agreement with major lenders on a restructuting of the company’s debt and credit agreement that should improve its financial outlook.

The company added that the restructuring is not expected to lead to changes in its Triumph Learning and Recorded Books businesses.

“We will continue to acquire rights and publish new products, market and sell all our products to all customer segments, and plan to continue to pay our vendors, licensors and employees on a timely basis,” Chief Executive Officer Paul J. Crecca said in a written statement. “Once the restructuring of the Haights Cross debt is complete, the enterprise will be significantly deleveraged, a very positive outcome for our businesses.”

This entry was posted on Friday, August 21st, 2009 at 1:59 pm by Jay Loomis. You can follow any responses to this entry through the RSS 2.0 feed.
Category: Credit

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Business in the Burbs is our online news blog about businesses based or operating in the Lower Hudson Valley. Visitors here will also find items of interest to consumers in the region. Most contributions are from business reporters and editors covering Westchester, Rockland and Putnam counties.

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