Belk confirms $ 450 million Chap. 11 Debt Slash In Less Than A Day

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By Vince Sullivan (February 24, 2021, 10:31 a.m. EST) – Department store chain Belk Inc. completed a $ 450 million Chapter 11 debt restructuring in Texas court on Wednesday, possibly setting a record for the fastest bankruptcy recovery in recent history.

Department store chain Belk Inc. completed its $ 450 million Chapter 11 debt restructuring in Texas court on Wednesday. (Photo by John Greim / LightRocket via Getty Images) Early Wednesday, the company virtually appeared before U.S. bankruptcy judge Marvin Isgur to seek confirmation of its Chapter 11 plan after filing its petition and other documents the day before in evening.

Judge Isgur confirmed the plan around 10 a.m. after working with the debtor to change an order that …

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