AMS Updates The bankruptcy court rejected Simon & Schuster’s efforts to reclaim inventory shipped to AMS over the 45-day period prior to their bankruptcy filing. The judge reinforced that the secured creditors — e.g. the banks — have first claim on the inventory, the SD Union Tribune reports. There is a hearing set for January 31 on “Advanced Marketing’s proposal to establish procedures to sell all or part of the company or to find an investor willing to put up new capital or refinance its debt.” Separately, in reporting results for the quarter, Meredith takes a $3 million pre-tax charge […]
