Bluegreen Vacations Holding Corporation - Ordinary Shares - Class A

+1.81 (+9.67%)
Debt Financing / Related, Bankruptcy / Related

BBX Capital Says IT'SUGAR, Subsidiary Of Co And BBX Capital Florida Llc, Has Filed For Chapter 11 Bankruptcy Protection

Published: 09/22/2020 23:59 GMT
(BBX) - It'sugar, Subsidiary of Bbx Capital Corporation and Bbx Capital Florida Llc, Has Filed for Chapter 11 Bankruptcy Protection.
Co's Subsidiary It'sugar Llc and Its Subsidiaries Has Filed Voluntary Petitions Under Chapter 11 of Title 11 of U.S. Code.
Chapter 11 Filings Were Made in U.S. Bankruptcy Court for Southern District of Florida.
It'sugar Intends to Continue to Operate Its Retail Locations While Bankruptcy Proceedings Are Ongoing.
New Bbx Capital and Its Subsidiaries, Including It'sugar, Will Be Spun-off to Shareholders of Parent.
New Bbx Capital , Its Subsidiaries Other Than It'sugar, Remain Financially Strong, Continue to Conduct Normal Business Operations.
Subject to Bankruptcy Court Approval, a Subsidiary of New Bbx Capital Will Provide Debtor-in-possession Financing to It'sugar.