Fact Check: "At Home has entered an agreement with its lenders to eliminate nearly all of its approximately $2 billion in debt and receive $200 million in new funding during its Chapter 11 process."
What We Know
At Home Group Inc. has indeed entered into a Restructuring Support Agreement (RSA) with its lenders, which holds more than 95% of the company's debt. This agreement aims to eliminate substantially all of At Home's nearly $2 billion in funded debt and provide a capital infusion of $200 million to support the company during its Chapter 11 restructuring process (Business Wire). The company has initiated voluntary Chapter 11 proceedings in the U.S. Bankruptcy Court for the District of Delaware to implement the terms of this agreement (Wall Street Journal).
Analysis
The claim that At Home has reached an agreement to eliminate nearly all of its debt and secure new funding is supported by multiple credible sources. The primary source, a press release from At Home, outlines the specifics of the RSA, confirming the elimination of nearly all of its $2 billion debt and the provision of $200 million in new capital (Business Wire).
Additionally, the Wall Street Journal corroborates this information, stating that the deal with lenders will effectively remove most of the company's debt while providing necessary funding to sustain operations during the restructuring (Wall Street Journal). CNN also reported on the situation, emphasizing the financial restructuring and the support from lenders (CNN).
The sources used are reputable and provide consistent information regarding At Home's financial situation, making them reliable for this analysis. The press release from At Home is particularly significant as it comes directly from the company, detailing its financial strategy and future plans.
Conclusion
Verdict: True
The claim that At Home has entered an agreement with its lenders to eliminate nearly all of its approximately $2 billion in debt and receive $200 million in new funding during its Chapter 11 process is accurate. The evidence from multiple credible sources confirms the details of the restructuring agreement and the company's financial strategy moving forward.
Sources
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- At Home Group Enters Agreement to Facilitate Ownership ...
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