CCS Medical Holdings Inc., a bankrupt medical supply management company, has challenged its creditors to “put their money where their mouth is” to reach an agreement to sell the company or reorganize it. CCS had been owned by Warburg Pincus, prior to its July bankruptcy filing.
CIT Group filed for a prepackaged bankruptcy.
Lazy Days’ R.V. Center Inc., a Seffner, Fla.-based portfolio company of Bruckmann Rosser Sherrill & Co., has filed for Chapter 11 bankruptcy protection, as part of a previously-announced financial restructuring. Wayzata Investment Partners will become majority shareholder, via a debt-for-equity swap.
Panolam Industries, a Shelton, Conn.-based decorative laminate company, has filed for Chapter 11 bankruptcy protection, as part of a previously announced debt restructuring agreement with lenders led by Apollo Capital Management and Eaton Vance Management. Genstar Capital and Sterling Group bought Panolam for $345 million in 2005.
Six Flags Inc., the bankrupt theme park operator, has submitted a new reorganization plan based on proposals from hedge fund Avenue Capital Management and other bondholders. Avenue had criticized the initial plan, which would have transferred almost all of the company’s stock to senior lenders like J.P. Morgan Chase & Co.