Law360, Wilmington (March 07, 2012, 8:16 PM ET) -- Nebraska Book Co. filed a new reorganization plan in Delaware bankruptcy court on Wednesday that all but eliminates recoveries for junior bondholders who, under a previous plan, were set to take control of the college bookstore chain.
After a dismal fall rush ended hopes of securing the $250 million of exit financing underpinning the first plan, Nebraska Book went back to the negotiating table with bondholders and re-evaluated its business strategy, according to court documents.
The resulting plan anticipates closing 40 of Nebraska Book’s off-campus stores...
Bondholders Take Hit Under Nebraska Book's New Ch. 11 Plan
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