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Centric Brands Plans To Emerge From Chapter 11 By October-end

Centric Brands Inc. said that the United States Bankruptcy Court for the Southern District of New York issued a ruling confirming the company's Plan of Reorganization. The company plans to emerge from Chapter 11 by the end of October, after all conditions have been finalized.

The Plan was supported by the company's secured lenders and the Unsecured Creditors'
Committee.

Centric Brands noted that it expects to emerge as a private company, under the supportive ownership of its current lenders led by Blackstone, Ares, and HPS.

The company expects to secure new exit financing in the form of a new securitization facility, as well as new revolving and term loan facilities from its current secured lenders.

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