Meanings of prepackaged restructuring in English

Another THLee company, mattress maker Simmons Co, is also working on a prepackaged restructuring that includes bankruptcy.

Sbarro entered Chapter 11 with a so-called prepackaged restructuring that already had the backing of many of its creditors.

Vitro recently launched a cash tender and swap for outstanding debt with the intention of presenting a prepackaged restructuring to courts.

In a parallel restructuring option, it also explored auctioning its assets but, drawing no bidders, went ahead with the prepackaged restructuring.

The deal effectively completes a swift restructuring for Jackson Hewitt, which filed for Chapter 11 protection from creditors in May with a prepackaged restructuring plan.