As expected Nebraska Book Company’s Disclosure Statement for its Third Amended Plan of Reorganization was approved, which moves it closer to emerging from bankruptcy.
“We recognize that there are a few more milestones to reach,” said company president Barry Major in a prepared statement. “But our emergence from Chapter 11 is in sight with the support we have from our lenders and the unsecured creditors’ committee.”
With the approval Nebraska can begin soliciting votes to accept the plan. Votes must be received by May 21; a hearing will be held on May 30.
