Spectrum Brands to exit Ch. 11 in August - Nashville Business Journal:

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The Atlanta-based consumer products company said it will exit bankruptc y protection as soon as all closing conditions tothe plan, includiny the closing of the company’s exit have been met. That will likely be in August, the compangy said. “When we emerge, we will have reducex our subordinated debtby $840 million and eliminated approximately $60 million of annual cash interest expensea for at least each of the next two said Kent Hussey, CEO of Spectrum in a prepared statement. “We will emerge with a strongef balance sheet that will bettetr position us to maintain and strengthejn our current platform and to pursue opportunitiesx to growour company.
” Spectrumj Brands and its U.S. subsidiaries filed for Chaptere 11 inthe U.S. Bankruptcy Court for the Westermn Districtof Texas, San Antonio Divisiob on Feb. 3. It had $4.4 billion in debt. Spectrum makes Rayovac batteries, Tetrq pet supplies, Remington shaving and grooming and personaolcare products, household insecticides and lawn and garden care