My Alarm Center Files for Bankruptcy to Reorganize,
Eliminate Debt | #TpromoCom #Security #SDM #Reorganization
#Bankruptcy | My Alarm Center, a provider in home security, announced
that 100 percent of its senior lenders and other key stakeholders
have agreed to support the company’s prepackaged plan of
reorganization under Chapter 11 of the U.S. Bankruptcy Code. https://bit.ly/32WBXJi
The reorganization provides for elimination of approximately $235 million of legacy debt obligations. This will allow the company to focus on core competencies without the burden of servicing significant debt levels. (read more)
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