CURO Group Files for Bankruptcy

Dow Jones

Mar 25, 2024

By Dean Seal

CURO Group Holdings has filed for Chapter 11 bankruptcy as part of a restructuring agreement reached with its lenders and noteholders.

The consumer credit lender said Monday the agreement is supported by the holders of more than 74% of its loans and senior secured notes.

CURO expects the restructuring to reduce its debt by $1 billion and create $75 million of annual cash interest savings. It has also received a commitment of $70 million in debtor-in-possession financing from certain stakeholders.

The company's branches will continue to operate as usual and consumer loans won't be affected, CURO said.

Write to Dean Seal at dean.seal@wsj.com

(END) Dow Jones Newswires

March 25, 2024 11:15 ET (15:15 GMT)

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It has also received a commitment of $70 million in debtor-in-possession financing from certain stakeholders. \n</p>\n<p>\n  The company's branches will continue to operate as usual and consumer loans won't be affected, CURO said. \n</p>\n<pre>\n \n</pre>\n<p>\n  Write to Dean Seal at dean.seal@wsj.com \n</p>\n<pre>\n \n</pre>\n<p>\n  (END) Dow Jones Newswires\n</p>\n<p>\n  March 25, 2024 11:15 ET (15:15 GMT)\n</p>\n<p>\n  Copyright (c) 2024 Dow Jones &amp; Company, Inc.\n</p>\n</font>\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"BK4166","symbol_name":"消费信贷","start_time":0,"source_url":"https://dowjonesnews.com/newdjn/logon.aspx?AL=N","article_id":"2422544611","we_media_id":"106","thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2422544611","pubTimestamp":1711379700,"columns":[],"sourceInfo":null,"weMediaInfo":{"media_name":"Dow Jones","introduction":"Dow Jones publishes the world’s most trusted business news and financial information in a variety of media.","home_visible":0,"id":"106","head_image":"https://static.tigerbbs.com/150f88aa4d182df19190059f4a365e99"},"summary":"CURO Group Holdings has filed for Chapter 11 bankruptcy as part of a restructuring agreement reached with its lenders and noteholders.The consumer credit lender said Monday the agreement is supported by the holders of more than 74% of its loans and senior secured notes.CURO expects the restructuring to reduce its debt by $1 billion and create $75 million of annual cash interest savings. It has also received a commitment of $70 million in debtor-in-possession financing from certain stakeholders.The company's branches will continue to operate as usual and consumer loans won't be affected, CURO said.","collect":0,"end_time":0,"defaultTopTitle":"","property":[],"viewcount":null,"language":"en","relate_stocks":{"BK4166":"消费信贷"},"translate_title":"CURO集团申请破产","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"CURO":1},"content_text":"By Dean Seal \n\n\n \n\n\n  CURO Group Holdings has filed for Chapter 11 bankruptcy as part of a restructuring agreement reached with its lenders and noteholders. \n\n\n  The consumer credit lender said Monday the agreement is supported by the holders of more than 74% of its loans and senior secured notes. \n\n\n  CURO expects the restructuring to reduce its debt by $1 billion and create $75 million of annual cash interest savings. It has also received a commitment of $70 million in debtor-in-possession financing from certain stakeholders. \n\n\n  The company's branches will continue to operate as usual and consumer loans won't be affected, CURO said. \n\n\n \n\n\n  Write to Dean Seal at dean.seal@wsj.com \n\n\n \n\n\n  (END) Dow Jones Newswires\n\n\n  March 25, 2024 11:15 ET (15:15 GMT)\n\n\n  Copyright (c) 2024 Dow Jones & Company, Inc.","kind":"highlight","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"0","news_tag":"","news_rank":0,"symbols":[],"gpt_button":0,"need_auth":true,"code":"91000000","status":"200"}}}