Wholesale tire supplier American Tire Distributors (ATD) successfully completed its financial recapitalization, reduced its debt by approximately $1.1 billion and emerged from Chapter 11. Wells Fargo Capital Finance provided $1.005 billion in committed exit financing to support operations and future growth initiatives.
In connection with emergence, ATD is issuing payment for all pre-petition obligations currently due. The company recapitalized on a fully consensual basis, with the support of all of its key financial stakeholders, as well as its vendors and customers.
