Shane Co. Announces Successful Emergence From Chapter 11 Reorganization

Shane Co. announced that it has finished its’  financial restructuring, and is set to return to business.
The press release is quoted as saying:

The company’s reorganization plan was highly praised by both the presiding judge and representatives of Shane Co.’s creditors during the reorganization confirmation hearing on November 10, 2010. Chief Judge Howard Tallman of the U.S. Bankruptcy Court-District of Colorado referred to the plan as “the ideal Chapter 11 that you can have,” and stated: “It’s refreshing to have a case that is a rehabilitation case. It’s an actual reorganization case. We don’t see many of those.”

Tom Shane, owner and founder of Shane Co., said:

“This is a great day for Shane Co. At the beginning of the reorganization, I made a commitment to our vendors, customers and team members that Shane Co. would pay 100 cents of every dollar owed to all, and emerge from the proceedings stronger than ever.” 

To access the full release, click here.