US Concrete Looks To Rebuild With Prepack Ch. 11

Law360, New York (April 29, 2010, 6:46 PM EDT) -- U.S. Concrete Inc. on Thursday filed a prepackaged Chapter 11 restructuring plan after reaching an agreement with a significant majority of its bondholders that will slash the company's debt load by about $272 million.

The company and 43 of its subsidiaries sought bankruptcy protection in the U.S. Bankruptcy Court for the District of Delaware, listing just over $399 million in total debts and total assets of just over $389 million.

Much of that debt accrued as the housing bubble inflated in the early- to mid-2000s. The...
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