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Home News

Toms Shoes Gets New Owners in Out-of-Court Debt Restructuring

bynadine
December 30, 2019
in News

The Wall Street Journal reported that Toms Shoes, the company that donates a pair of shoes to a poor child for each pair it sells, is handing ownership to creditors in an out-of-court recapitalization.

According to the Journal, the Bain Capital-owed shoe company will pursue a restructuring that includes $300 million in debt and investing $35 million in the business.

The Journal added Toms has a $306.5 million senior secured term loan due in October 2020, of which $299 million is outstanding.

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