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Article: Zany Brainy Signs Agreement for the Restructuring of Its Operations.
- Article from:
- PR Newswire
- Article date:
- July 11, 2001
CopyrightCOPYRIGHT 2001 PR Newswire Association LLC. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Transaction Expected to Close before Labor Day
KING OF PRUSSIA, Pa. and LOS ANGELES, July 10 /PRNewswire/ --
Zany Brainy, Inc. (OTC Bulletin Board: ZANYQ), a leading specialty retailer of high quality toys, games, books and multimedia products, announced today that the Company has signed an agreement pursuant to which Waterton Management, LLC, or its affiliates, have agreed to fund approximately $115 million which Zany Brainy will utilize in the reorganization of its business operations and ultimate emergence from bankruptcy. Zany Brainy filed for Chapter 11 bankruptcy protection on May 15, 2001. The Official Committee of Unsecured Creditors has ...