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Corporate anticipated to emerge from Bankruptcy 11 in coming weeks as financially more potent corporate
HOUSTON, Dec. 9, 2025 /PRNewswire/ — Ascend Efficiency Fabrics, a important manufacturer of high-performance and sturdy engineered fabrics for on a regular basis necessities and unutilized applied sciences, introduced lately the US Chapter Courtroom for the Southern District of Texas has showed the Corporate’s Plan of Reorganization (the “Plan”). This milestone clears the trail for Ascend to effectively emerge from Bankruptcy 11 within the coming weeks with considerably much less debt and a more potent capital construction for week enlargement.
“We are excited to have reached this milestone,” mentioned Phil McDivitt, President and Important Govt Officer of Ascend. “Since beginning this process, our people have worked hard to strengthen the business and ensure that Ascend is well positioned to accelerate profitable growth while maintaining its commitments to safety, quality, and performance. I am grateful to our talented employees for their efforts, our customers and vendors for their partnership, and our lenders who supported the Plan. We look forward to completing this process very soon and advancing our leadership in high-performance materials.”
The Corporate will whole its monetary restructuring and emerge from Bankruptcy 11 next the transactions pondered through the Plan were finalized, which is predicted to happen through past’s finish. The Corporate is working as habitual because it takes those ultimate steps against emergence and continues to form and form high-performance fabrics that support the component of generation lately and encourage a greater day after today.
Supplementary Knowledge
Supplementary details about Ascend’s restructuring is to be had at www.ascendmaterials.com/strengthening-ascend. Chapter Courtroom filings and alternative data in regards to the case will also be discovered at https://dm.epiq11.com/Ascend or through contacting Epiq, the Corporate’s noticing and claims agent, at (888) 890-9917 (for toll-free U.S. yells) or +1 (971) 385-8728 (for tolled global yells).
Ascend is suggested on this topic through Kirkland & Ellis LLP as prison recommend, FTI Consulting as monetary marketing consultant, and PJT Companions as funding banker. The Advert Hoc Crew of Time period Mortgage Lenders to the Corporate is suggested through Gibson, Dunn & Crutcher LLP as prison recommend and Evercore Crew L.L.C. as funding banker.
About Ascend Efficiency Fabrics
Ascend Efficiency Fabrics makes high-performance fabrics for on a regular basis necessities and unutilized applied sciences. Our center of attention is on bettering component of generation and provoking a greater day after today via innovation. Primarily based in Houston, Texas, and with regional workplaces in Shanghai, Brussels, and Detroit, we’re an absolutely built-in subject material answers supplier with international production amenities in North The usa, Europe, and Asia. Our international staff makes the fabrics impaired to construct more secure cars, cleaner power, higher clinical gadgets, smarter home equipment, and longer-lasting attire and client items. We’re dedicated to protection, sustainability, and the luck of our shoppers and our communities.
Ascend Media
Osama Khalifa
[email protected]
Rachel Chesley / Rose Temple
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SOURCE Ascend Efficiency Fabrics
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