Bloomberg reported that Remington plans to postpone its bankruptcy filing by a week to March 14, as Bank of America terminated its role as administrative agent for the company’s term loan lenders.
According to Bloomberg, Ankura Trust, a specialist in distressed and default situations, will be taking over as agent.
Bank of America may still assist in Remington’s turnaround in another, yet-to-be-determined role, added Bloomberg.
Follow the story:
Remington Creditors Looking to Sell After Bankruptcy
BofA Supports Remington Restructuring
