northwest hardwoods restructuring

Manufacture domestically, source globally, deliver reliably. As a result, we foresee that a default or debt restructuring could be inevitable over the next six months, absent unanticipated significantly favorable changes in the company's circumstances. Northwest Hardwoods Paper & Forest Products Tacoma, Washington 3,168 followers America's largest and only coast to coast hardwood lumber producer. Northwest Hardwoods, Inc. manufactures and distributes wood products. On November 23, 2020, Northwest Hardwoods, Inc. and certain of its affiliates filed voluntary petitions under Chapter 11 of the United States Bankruptcy Code in the U.S. Bankruptcy Court for the District of Delaware. 8.5K likes. Northwest Hardwoods Inc., owned by private-equity firm Littlejohn & Co., on Friday said it reached an agreement on a financial restructuring that will reduce its debt by about $270 million. Lumber Manufacturer Files for Bankruptcy After Taking Hits From Trade Wars and Pandemic Northwest Hardwoods has a creditor-backed restructuring plan … TACOMA, Wash., Nov. 24, 2020 /PRNewswire/ -- On November 23, 2020, Northwest Hardwoods, Inc. and certain of its affiliates ("NWH" or the "Company") took … The outlook is negative. Northwest Hardwoods, Inc. (NWH) reports it has entered into a restructuring support agreement (RSA) with holders of more than 95% in principal amount of the company’s secured notes and certain of its existing equity holders to execute a transaction that will reduce the company’s debt by $270 million and position NWH for future growth and success. 20-13005). We are the largest manufacturer and global supplier of hardwood lumber. Northwest Hardwoods, Tacoma, Washington. The Company offers hardwood, plywood and lumber products. Northwest Hardwoods, Tacoma, Washington. We are the largest manufacturer and global supplier of hardwood lumber. Among the largest unsecured claims are: There are 38 companies in the Northwest Hardwoods, Inc. corporate family. The negative outlook on Northwest Hardwoods reflects our belief that its operating results will remain weak over the next few quarters, increasing the risk of a debt restructuring or … Littlejohn & Co., through its affiliates, is the primary owner of Northwest. 8.4K likes. Northwest Hardwoods laid off more than 40 employees at its Longview mill in the wake of the company’s struggle to secure a steady supply of raw materials. The Tacoma, Wash., lumber firm stated it plans to implement the restructuring both via an out-of-court debt-for-equity swap or via a prepackaged chapter 11 […] Northwest Hardwoods, Tacoma, Washington. We are lowering our issuer credit ratings on Northwest Hardwoods to 'CCC-' from 'CCC'. “On November 23, Northwest Hardwoods and certain of its affiliates took the next step in implementing its restructuring support agreement by filing voluntary petitions for relief under Chapter 11 of the Bankruptcy Code in the United States Bankruptcy Court for the District of Delaware,” the company wrote in a release. Fee Amount $1717. Northwest Hardwoods, Inc. is located in Tacoma, WA, United States and is part of the Lumber & Plywood Product Manufacturing Industry. We are the largest manufacturer and global supplier of hardwood lumber. We are the largest manufacturer and global supplier of hardwood lumber. Northwest Hardwoods (NWH) has entered into a restructuring agreement with shareholders to help it recover $270 million in debt. Northwest Hardwoods, Inc., (HQ: Tacoma, WA), filed a voluntary Chapter 11 bankruptcy petition on November 23, 2020. Northwest Hardwoods, Inc., a Tacoma, Wash.-based privately held lumber manufacturer with 20 production facilities in the western, glacial, and Appalachian regions of the United States, filed for chapter 11 protection early this morning, Nov. 23, in the Bankruptcy Court for the District of Delaware, along with two affiliates. Market Insider is a business news aggregator for traders and investors that proposes to you the latest financial markets news, top stories headlines and trading analysis on stock market, currencies (Forex), cryptocurrency, commodities futures, ETFs … Nov 23: 1 Petition Chapter 11 Voluntary Petition . In its bankruptcy filing, Northwest Hardwoods, Inc., claimed $100 to $500 million in estimated liabilities.. Northwest Hardwoods Inc., owned by private-equity agency Littlejohn & Co., on Friday stated it reached an settlement on a monetary restructuring that can cut back its debt by about $270 million. Northwest Hardwoods, Inc., headquartered in Tacoma, Washington, is a national manufacturer and distributor of hardwood lumber used for diverse products such as mill work, cabinetry, flooring, and furniture. Northwest Hardwoods, Tacoma, Washington. Northwest Hardwoods serves customers in the United States. What is Market Insider? Filed by Northwest Hardwoods, Inc.. (Beach, Sean) (Entered: 11/23/2020) Nov 23: 2 Affidavit/Declaration in Support of First Day Motion // Declaration of Nathan Jeppson in Support of the Debtors' Chapter 11 Petitions and Requests for First Day Relief Filed By Northwest Hardwoods, Inc. (Beach, Sean) (Entered: 11/23/2020) Northwest Hardwoods, Inc. has filed for Chapter 11 bankruptcy, seeking to eliminate $270 million in debt and financially restructure the company, which has 30 facilities across North America. Northwest Hardwoods, Inc. has 2,000 total employees across all of its locations and generates $791.16 million in sales (USD). 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