Spectrum Brands to exit Ch. 11 in August - bizjournals:

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The Atlanta-based consumer products companyt said it will exit bankruptcy protection as soon as all closiny conditions to the including the closing ofthe company’s exit have been met. That will likel y be in August, the companhy said. “When we emerge, we will have reduced our subordinated debtby $840 million and eliminatec approximately $60 million of annual cash interest expenses for at leasrt each of the next two years,” said Kent Hussey, CEO of Spectrunm Brands, in a prepared “We will emerge with a stronger balance sheet that will better positionj us to maintain and strengthen our current platform and to pursu e opportunities to grow our company.
” Spectrum Brands and its U.S. subsidiaries filede for Chapter 11 inthe U.S. Bankruptcy Court for the Westerj Districtof Texas, San Antonio Division on Feb. 3. It had $4.4 billion in debt. Spectrum makesx Rayovac batteries, Tetra pet Remington shaving and grooming and personal care household insecticides and lawn and gardencare products.