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Article: Muzak Files Voluntary Chapter 11 Petitions to Facilitate a Balance Sheet Restructuring.

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PR Newswire
Article date:
February 10, 2009
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Operations to Continue as Normal

FORT MILL, S.C., Feb. 10 /PRNewswire/ -- Muzak Holdings LLC and certain of its subsidiaries (together, the "Company"), today announced the filing of voluntary petitions for relief under Chapter 11 of the United States Bankruptcy Code in the United States Bankruptcy Court for the District of Delaware (the "Court") to facilitate a restructuring of the Company's debt obligations. Muzak previously reached an agreement with its lenders to access all cash on hand and cash generated from ongoing operations. The Company is confident that it has sufficient means to support the business during the Chapter 11 process.

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