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School Specialty files for bankruptcy, up for sale
A Greenville-based company is filing for bankruptcy protection, and setting up a process to be sold.
School Specialty is a provider of K-12 educational products, and leaders worked out a deal with a private investment firm, to go through a court-supervised sale process.
More than 400 people work at the company's headquarters in the Greenville Business Park.
As part of the Chapter 11 bankruptcy filing, Bayside Capital is loaning School Specialty $50 million. Company leaders say that will let them continue to conduct business as usual. Bayside Capital and other court-approved bidders will be able to try to buy the company, in 60 to 90 days.
School Specialty was founded in 1959.
School Specialty is a provider of K-12 educational products, and leaders worked out a deal with a private investment firm, to go through a court-supervised sale process.
More than 400 people work at the company's headquarters in the Greenville Business Park.
As part of the Chapter 11 bankruptcy filing, Bayside Capital is loaning School Specialty $50 million. Company leaders say that will let them continue to conduct business as usual. Bayside Capital and other court-approved bidders will be able to try to buy the company, in 60 to 90 days.
School Specialty was founded in 1959.
posted : January, 28th by WHBY
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