USA: Judge approved Pittsburgh Brewing plan, creditors must now vote
Pittsburgh Brewing Co. could be out of bankruptcy by early next month if its creditors vote to accept a repayment plan approved by a judge, Associated Press reported May 3.
Under the plan approved Wednesday, a group led by private equity fund manager John Milne of Westport, Conn, will pay up to $4.9 million to settle about $26 million in debts with more than 200 creditors.
Creditors have until May 29 to vote on the plan. If approved, U.S. Bankruptcy Judge M. Bruce McCullough could sign off on it at a hearing June 5.
Milne's group plans to take over the 147-year-old brewery on June 8, saving 160 jobs. The group plans to invest at least $3.5 million in the brewery, and get a $2.5 million line of credit.
The brewery makes Iron City, I.C. Light and Augustiner beers.
Regresar
E-malt.com, la fuente de información global para los profesionales de la industria cervecera y de malteado. Los boletines quincenales de E-malt.com incluyen las últimas noticias de la industria, estadísticas en gráficos y tablas, precios mundiales de cebada y malta, y otra información relevante. Haga clic aquí para obtener acceso completo a E-malt.com. Si usted es un cliente de Castle Malting, puede obtener acceso gratuito al sitio web y publicaciones de E-malt.com. Contáctenos para obtener más información en marketing@castlemalting.com.
