Northwest Hardwoods Files Chapter 11

Northwest Hardwoods, Inc. (NWH) and some of its affiliates have taken the next step in its restructuring from bankruptcy. A U.S. bankruptcy court in Delaware has approved measures which enable the company to run operations, supply customers, and pay vendors. Significantly, the court authorized the company to use over $22 million of available cash to pay all critical vendors and other service providers any pre-bankruptcy amounts owed. On November 6, the company entered into the restructuring support agreement in an effort to position it for future growth and success.