Aircraft maker Hawker Beechcraft is narrowing in on potential buyers as part of its plan to emerge from bankruptcy reorganization.
The company disclosed in court documents that along with its investment banker, Hawker Beechcraft developed a list of potential buyers and investors over several months ahead of its May 3rd filing for Chapter 11.
The details are included in a preliminary reorganization plan and a related disclosure statement Hawker Beechcraft filed over the weekend with the federal Bankruptcy Court in New York. The company says it began with an initial field of 35 potential buyers and received bids last month from eight.
The prearranged bankruptcy plan is aimed at reducing the company's total funded debt of more than $2.5 billion.