12 hours ago
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Todd Maiden
Mon, April 27, 2026 astatine 10:31 AM CDT 1 min read
STG Logistics announced Monday that it has reached a woody with lenders and plans to soon exit bankruptcy protection.
The intermodal selling institution said the recapitalization program gives Fortress Investment Group and Invesco, among others, bulk ownership successful speech for a $1-billion indebtedness simplification (over 90% of outstanding debt) and up to $150 cardinal successful caller capital.
The woody besides settles litigation from the company’s number lenders, who claimed their rights were impaired successful a erstwhile woody betwixt STG and superior lenders.
STG said it has completed a “court-supervised selling process” and is nearing a “fully consensual” exit from bankruptcy, awaiting last confirmation of the recapitalization plan.
The institution entered a pre-packaged Chapter 11 statement successful January.
“The transaction we are moving guardant with is the optimal solution to unafraid a beardown aboriginal for STG and reflects capitalist assurance successful our strategy and semipermanent prospects,” said STG CEO Geoff Anderman successful a quality release. “With the enactment of each our cardinal stakeholders, we are moving guardant swiftly with a consensual confirmation process and volition look arsenic a strong, well-capitalized company, well-positioned to service our customers, partners, and employees good into the future.”
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