Acosta Seeks Speedy $3B Ch. 11 Debt Rework In Del.

Law360 (December 2, 2019, 11:58 AM EST) -- Marketing industry major Acosta Inc. sprinted into Chapter 11 in Delaware on Sunday, seeking approval in as little as 12 days for a prepackaged, $3.1 billion debt-for-equity reorganization as the company grapples with rapidly changing consumer and business trends.

The Florida-based sales and retail merchandising-focused business, owned since 2014 by Carlyle Group LP, asked in its initial filings for scheduling of a confirmation hearing as early as Dec. 13, with objections to the newly filed plan for Acosta and its 19 affiliates due as early as Dec. 9.

According to a company declaration, talks with creditors on the reorganization have been...

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