Daily Bankruptcy Review (04/01/14) Jacqueline Palank
The Select Staffing Family of Cos., based in Santa Barbara, CA, has filed a prepackaged Chapter 11 bankruptcy reorganization plan that will allow the company to pay its creditors and continue funding its business. The company’s existing lenders will provide $50 million, pending court approval.
Meanwhile, in connection with the reorganization, Select Staffing will acquire Decca Consulting, a staffing firm specializing in the energy business. It also will obtain the right to purchase Butler America Inc., a staffing firm that specializes in technical services.