To keep operations running during the proceedings, the lender group has committed to an $80 million debtor-in-possession (DIP) financing arrangement, according to court filings. The infusion of capital is expected to provide much-needed liquidity as Exela navigates the complexities of bankruptcy.
A Workforce on Edge and a Legal Battle Ahead
With approximately 11,000 employees spanning multiple countries, the ripple effects of Exela’s financial turmoil extend far beyond the courtroom. While the bankruptcy filing offers a structured framework for addressing its debt load, uncertainty looms over the company’s workforce and future business prospects.
The case has been assigned to U.S. Bankruptcy Judge Christopher M. Lopez, who will oversee what is likely to be a closely watched restructuring process.
