To stay afloat during the bankruptcy process, the company has obtained $677.5 million in “debtor-in-possession” financing, with $265 million committed by KPS and the remaining $412.5 from existing bank lenders. Suppliers/Vendors > The Company has reached an initial agreement with KPS Capital Partners, which will acquire essentially all of the company’s assets and assume certain customer, employee and vendor liabilities. Bloomberg reports that some holders of these notes have organized and are working with Gibson Dunn & Crutcher LLP and Imperial Capital LLC to advise them … MILWAUKEE, Oct. 27, 2020 /PRNewswire/ — After emerging from Chapter 11 restructuring as a new company with a new owner and a new CEO, Briggs & Stratton, LLC, a company with a 113-year legacy, also has a new beginning. Wall Street Stock Market & Finance report, prediction for the future: You'll find the Briggs & Stratton share forecasts, stock quote and buy / sell signals below.According to present data Briggs & Stratton's BGG shares and potentially its market environment have been in bearish cycle last 12 … Briggs & Stratton, the world’s leading manufacturer of small gasoline engines , filed for Chapter 11 bankruptcy protection. Steve Andrews assumed the position of Briggs & Stratton's President and CEO just over a month ago after most recently serving as CEO of International Equipment Solutions LLC. The realag team working as a group to bring you the latest in machinery content. Customer Letter > The negative outlook reflects the heightened risk that the company could default on its debt obligations or pursue a distressed debt restructuring within the next six months. KPS Capital Partners has agreed to act as a stalking horse, as other competing offers are being solicited. In this week's episode of Wheat Pete's Word, host Peter Johnson is answering the most timely questions regarding the winter wheat crop, choosing seeding rates, the importance of seed treatments, and so much more.…, When you visit the Site, we automatically collect certain information about your device, including information about your web browser, IP address, time zone, and some of the cookies that are installed on your device. “Throughout this process, Briggs & Stratton products will continue to be produced, distributed, sold, and fully backed by our dedicated team,” continues Teske. ... Restructuring Transaction Fee. (Bloomberg) -- Briggs & Stratton Corp., the century-old maker of engines for lawn mowers and garden equipment that’s at risk of going bankrupt, hired restructuring advisers to help rework debt that starts coming due this year. All Rights Reserved. Investors:  1-800-365-2759. Our portfolio of innovative engines, robust lines of products and high-performance commercial batteries positions Briggs & Stratton to meet our global customers' needs for power to get work done, now and in the future. There was no need for a … Briggs & Stratton Corp., the century-old maker of engines for lawn mowers and garden equipment that’s at risk of going bankrupt, hired restructuring advisers to help rework debt that starts coming due this year. Briggs & Stratton Hires Restructuring Adviser Briggs & Stratton Corp. has hired Houlihan Lokey Inc. as restructuring advisers to help rework debt that will begin coming due this year, reports Bloomberg, ahead of a June 15 interest payment on unsecured bonds that mature in December. Registration confirmation will be e-mailed to you. Steve Andrews assumed the position of Briggs & Stratton’s president and CEO just more than a month ago after most recently serving as CEO of International Equipment Solutions. Press Releases © 2020 Briggs & Stratton Corporation. Briggs & Stratton Corp. has hired Houlihan Lokey Inc. as restructuring advisers to help rework debt that will begin coming due this year, reports Bloomberg, ahead of a June 15 interest payment on unsecured bonds that mature in December. Steve Andrews assumed the position of Briggs & Stratton's President and CEO just over a month ago after most recently serving as CEO of International Equipment Solutions. After emerging from Chapter 11 restructuring as a new company with a new owner and a new CEO, Briggs & Stratton, a company with a 113-year legacy, also has a new beginning. MILWAUKEE, WI (October 27, 2020) - After emerging from Chapter 11 restructuring as a new company with a new owner and a new CEO, Briggs & Stratton, LLC, a company with a 113-year legacy, also has a new beginning. Investors > Restructuring Hotline Upon the earlier to occur of: (A) in the case of an out-of-court restructuring transaction, the closing of such restructuring transaction; and (B) in the … NewsAPI.org: Briggs & Stratton files for bankruptcy protection. Briggs & Stratton Corporation () Stock Market info Recommendations: Buy or sell Briggs & Stratton stock? Preference cookies enable the website to remember information that changes the way the website behaves or looks, like your preferred language or the region that you are in. We refer to this automatically-collected information as “Device Information.”, gdpr, __cfduid, PHPSESSID, wordpress_test_cookie, woocommerce_items_in_cart, woocommerce_cart_hash, wp_woocommerce_session, wordpress_logged_in, wordpress_sec, wp-settings, wp-settings-time, __cf_mob_redir, wordpress_cache, realag, _ga,_gid,_gat,_cb,_chartbeat2,_chartbeat4, chartdefaults, comment_author, comment_author_email, comment_author_url, JSESSIONID, _os_session,anonymous_votes,csrf-param,csrf-token,user,user-id,user-platform,intercom-session,intercom-lou,intercom-session, Wheat Pete’s Word, Sept 9: Broadcast risks, upping seeding rates, and tickling 200 bushels per acre. Briggs & Stratton Corporation, the company behind the well-known small engine brand, has filed for Chapter 11 bankruptcy in the U.S., but it appears the brand will survive. MILWAUKEE, Oct. 27, 2020 /PRNewswire/ -- After emerging from Chapter 11 restructuring as a new company with a new owner and a new CEO, Briggs & Stratton, LLC, a company with a 113-year legacy, also has a new beginning. Under that approved plan, a select group of institutional noteholders effectively received recoveries that were much larger than retail noteholders. Steve Andrews assumed the position of Briggs & Stratton’s President and CEO just over a month ago after most recently serving as CEO of International Equipment Solutions, LLC. “The challenges we have faced during the COVID-19 pandemic have made reorganization the difficult but necessary and appropriate path forward to secure our business,” says Todd Teske, Briggs & Stratton’s chairman, president, and Chief Executive Officer. The website cannot function properly without these cookies. The Vanguard Engines & … 07/20/2020. 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