DALLAS — Coach America Holdings Inc.announced today that it has re-scheduled the Sale Auction Date related to its Chapter 11 proceedings to April 25, 2012.
The Sale Auction had originally been scheduled for April 18, 2012. The one-week delay reflects the timely submission from the Pre-Petition First Lien Agent, pursuant to Section 9.1 of the Prepetition First Lien Credit Agreement, of its intent to submit a Credit Bid under Section 363 of the U.S. Bankruptcy Code.
As previously announced on January 3, 2012, Coach America Holdings Inc. and its U.S.-based subsidiaries filed to reorganize under Chapter 11 in the U.S. Bankruptcy Court for the District of Delaware. More information about the Chapter 11 filing, which has been assigned case number 12-10010 (KG), is available on the Internet at www.coachamerica.com/restructure. The Company is providing ongoing access to court documents at www.bmcgroup.com/coachamerica.
About Coach America
Coach America is the largest tour and charter bus operator and the second largest motorcoach service provider in the highly fragmented U.S. surface transportation industry. Headquartered in Dallas, Texas, Coach America provides transportation services throughout the entire United States. Services provided by Coach America include motorcoach charters, tours and sightseeing, commuter transportation, airport and casino shuttles, rail crew transportation and contract services for municipalities and corporations. Coach America operates the second largest fleet in the U.S. with over 3,000 well maintained vehicles, including over 1,600 motorcoaches, primarily under the well-recognized Coach America, American Coach Lines and Gray Line brands. For more information, please visit www.coachamerica.com.
