PW: Golden Emerges From Chapter 11

Bankruptcy court judge Tina Brozman approved the final consummation of Golden Books' reorganization plan January 27, an act that officially brought the children's book publisher out of bankruptcy. Under the plan, Golden reduced its long-term debt, secured a $60 million financing arrangement and will continue to operate under its current management team headed by Dick Snyder.

Philip Galanes, chief administrative officer for Golden, said the company "was thrilled to be out of bankruptcy." One of the first moves Golden will make now that the Chapter 11 process is completed will be to apply for relisting on the NASDAQ market. The company was de-listed last February when it failed to meet the minimum NASDAQ financial requirements.