EveryWare enters Chapter 11 with lender-backed prepack and DIP path
EveryWare Global filed Chapter 11 in Delaware under case no. 15-10743, launching a prepackaged restructuring backed by term lenders and equity holders after a going-concern issue threatened defaults under its loan documents. The company disclosed the commencement in an SEC 8-K, and the bankruptcy docket confirms the voluntary petition was filed on April 7.
The restructuring package is creditor-relevant because it pairs a fast prepack with new liquidity: the disclosure statement describes a $40.0 million new-money DIP term facility and a $60.0 million DIP ABL facility, while converting roughly $248.6 million of term loan debt into 96% of reorganized equity and paying allowed general unsecured claims in full in cash through the proposed plan. Existing equity holders would retain 4% of new common stock in exchange for support, making this less a liquidation story than a balance-sheet reset with negotiated recoveries already mapped in the prepackaged plan disclosure statement.