Virginia-based AMF announced the bankruptcy filing and the agreement on Tuesday morning.
The agreement is with a majority of the company's first lien lenders and the landlord of a majority of its bowling centres.
AMF said in a statement it expects to complete the restructuring and leave Chapter 11 in about five months.
The company says the restructuring will eliminate a significant amount of outstanding debt.
Chief financial officer and chief operating officer Steve Satterwhite says the company needs financial flexibility to improve its bowling centres and make other long-term investments.
Bowling centres will continue normal operations during the restructuring.
Yes mate - not arguing -- just contributing. As far as an independent Centre goes, I really can't see that they would have any option but to profit from it. Small business of just about any type, aint no easy road.Yep Jim not criticizing just asking the question.... Is it a money-making tournament?
Do we actually know that AMF have pulled out? I havent read this anywhere..Not good enough. This should have been resolved as soon as AMF pulled out.
Nationals need to be fixed for at least 3 years in advance and there should be a backup plan in hand to allow for venue changes.
Do we actually know that AMF have pulled out? I havent read this anywhere..
Interesting question. Do we actually know ANYTHING ? Wouldn't be the worst thing TBA has ever done, if it were to bring us up to date on what is happening, on it's website. Can't see any reason why not.Do we actually know that AMF have pulled out? I havent read this anywhere..