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Bankrupt Paper Source Sets Sale To Apollo-backed Lender | Wealth Management

by wealthmanagement.com posted 1month ago 29 views
The retailer intends to hand control of the business to an affiliate of MidCap Financial. : (Bloomberg)—Paper Source Inc., the stationery and craft supplies chain, filed for bankruptcy with plans to sell itself after Covid-19 hampered expansion plans. The company intends to hand control of the business to an affiliate of MidCap Financial, a lending arm of Apollo Global Management, in exchange for debt forgiveness, court papers show. Paper Source owes about $103 million to lenders, including more than $55 million under a first-lien term loan.

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