Spectrum Brands to exit Ch. 11 in August - San Francisco Business Times:

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The Atlanta-based consumer products compan said it will exit bankruptcy protection as soon as all closing conditions tothe plan, including the closing of the company’s exit have been met. That will likely be in the company said. “Whenb we emerge, we will have reducede our subordinated debtby $840 millionm and eliminated approximately $60 millionj of annual cash interest expenses for at least each of the next two said Kent Hussey, CEO of Spectrum Brands, in a prepares statement. “We will emerge with a stronger balancde sheet that will better positiob us to maintain and strengthen our currenty platform and to pursue opportunities to growour company.
” Spectrum Brands and its U.S. subsidiariea filed for Chapter 11 inthe U.S. Bankruptcy Court for the Westerm Districtof Texas, San Antonipo Division on Feb. 3. It had $4.4 billion in debt. Spectrum makes Rayovac batteries, Tetrwa pet supplies, Remington shaving and groomintg and personalcare products, householf insecticides and lawn and garden care products.