Rowe Submits Reorganization Strategy

Law360, New York (August 14, 2007, 12:00 AM EDT) -- Taking the next step towards exiting Chapter 11, bankrupt furniture store chain The Rowe Companies has filed a reorganization plan that will allow its creditors to recover an amount “at least equal” to what would be available for their respective claims if the company were to liquidate.

Rowe said in its reorganization plan and accompanying disclosure statement, filed Monday in the U.S. Bankruptcy Court for the Eastern District of Virginia, that its creditors will enjoy greater recovery under its plan due to avoiding the increased costs...
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