All Rights Reserved. This step was the difficult but necessary and appropriate one to take to secure our business and financial success moving forward. Steve Andrews assumed the position of Briggs & Stratton's President and CEO just over a month ago after most recently serving as CEO of International Equipment Solutions. Our portfolio of innovative engines, robust lines of products and high-performance commercial batteries positions Briggs & Stratton to meet our global customers' needs for power to get work done, now and in the future. Steve Andrews assumed the position of Briggs & Stratton's President and CEO just over a month ago after most recently serving as CEO of International Equipment Solutions LLC. NewsAPI.org: Briggs & Stratton files for bankruptcy protection. Briggs & Stratton Hires Restructuring Adviser Briggs & Stratton Corp. has hired Houlihan Lokey Inc. as restructuring advisers to help rework debt that will begin coming due this year, reports Bloomberg, ahead of a June 15 interest payment on unsecured bonds that mature in December. These are used to track user interaction and detect potential problems. Briggs & Stratton Corp., the century-old maker of engines for lawn mowers and garden equipment that’s at risk of going bankrupt, hired restructuring advisers to help rework debt that starts coming due this year. Liabilities assumed include rebates and allowances, warranties, employee accrued vacation and post petition vendor accounts payable. We are maintaining high levels of service to our customers and our relationships with vendors and other business partners across the value chain. Bloomberg reports that some holders of these notes have organized and are working with Gibson Dunn & Crutcher LLP and Imperial Capital LLC to advise them … Briggs & Stratton filed for bankruptcy (docket 1) in St. Louis with Judge Barry Schermer hearing the case. “Throughout this process, Briggs & Stratton products will continue to be produced, distributed, sold, and fully backed by our dedicated team,” continues Teske. To register an account you must accept our Privacy Policy, which describes how your personal information is collected, used, and shared when you visit or make a purchase from RealAgriculture.com. As part of the Chapter 11 filing, private equity firm KPS Capital has made a $550 million “stalking horse” offer to buy all of Briggs & Stratton’s assets. Investors:  1-800-365-2759. Briggs & Stratton Hires Restructuring Adviser May 28, 2020 | Posted in Ag Equipment Business Briggs & Stratton Corp. has hired Houlihan Lokey Inc. as restructuring advisers to help rework debt that will begin coming due this year, reports Bloomberg, ahead of a June 15 interest payment on unsecured bonds that mature in December. After emerging from Chapter 11 restructuring as a new company with a new owner and a new CEO, Briggs & Stratton, a company with a 113-year legacy, also has a new beginning. MILWAUKEE, WI (October 27, 2020) - After emerging from Chapter 11 restructuring as a new company with a new owner and a new CEO, Briggs & Stratton, LLC, a company with a 113-year legacy, also has a new beginning. Under that approved plan, a select group of institutional noteholders effectively received recoveries that were much larger than retail noteholders. Briggs & Stratton Corporation, the company behind the well-known small engine brand, has filed for Chapter 11 bankruptcy in the U.S., but it appears the brand will survive. The realag team working as a group to bring you the latest in machinery content. If you are a third party looking for claims information, or if you would like more information about the restructuring process, please visit our noticing agent website, at www.kccllc.net/Briggs. Investors > Measuring interactions with the ads on the domain. KPS to buy Briggs&Stratton, this is the news that has brightened the powertrain business sky, obscured by the clouds of lockdown.The Covid-19 was particularly inauspicious for the Milwaukee-based engine maker. S&P could lower its rating on Briggs & Stratton if the company: — Enters into or plans to announce a distressed restructuring or bankruptcy filing. Learn how your comment data is processed. The Vanguard Engines & … For additional information, please call (866) 544-7045 (Toll Free within U.S. and Canada) or (781) 575-2084 (International). Register for a RealAgriculture account to manage your Shortcut menu instead of the default. On July 20, 2020, Briggs & Stratton Corporation announced it was filing voluntary petitions for a court-supervised reorganization under Chapter 11 of the U.S. Bankruptcy Code to address its debt obligations and facilitate the potential sale of the Company. Restructuring Hotline This is the same judge that approved the appalling Ch.11 reorganization plan for Peabody Energy (BTU) a few years ago. General > Case Information Steve Andrews assumed the position of Briggs & Stratton’s President and CEO just over a month ago after most recently serving as CEO of International Equipment Solutions, LLC. Proposed the Battery Pack Market info Recommendations: Buy or sell briggs & Stratton Stock are solicited! 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