We are delighted to announce that we have now completed our financial restructuring process and emerged from Chapter-11.
This is an important milestone in our company’s history as it marks the beginning of an exciting and positive future. This success was also made possible thanks to the continuous support of our customers and the daily commitment of the Group’s employees throughout this difficult period.
https://lnkd.in/dCrpzp5
According to the law of relativity nothing changed by coming out of bankruptcy. The debt reduced by half and the value of the company reduced by half too.
I am surprised that the market did not react positively to this news. In contrast, the stocks went down since they announced that they came out of chapt 11. As of this moment each stock worth $3.64 on the NY stock exchange and with a market cap of about 42 m. A day before they filed for bankruptcy protection the stock was more than double of its current value and the market cap was > 100 m. As of today, each stock on the Paris SE worth only 1.46 Euro.
“Delighted” - what an interesting choice of word.