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  • February 2014 (Revised March 2022)
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School Specialty, Inc.

By: Stuart C. Gilson and Kristin Mugford
  • Format:Print
  • | Language:English
  • | Pages:19
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Abstract

Set in 2013, School Specialty was a financially troubled supplier of educational products to primary and secondary schools in the United States. The company planned to file Chapter 11 in order to address its excessive debt load, but needed to arrange debtor-in-possession financing to provide liquidity while in bankruptcy. The company has received a financing proposal from its existing term loan lender that includes some aggressive and unusual features. This includes the requirement that, immediately upon filing for Chapter 11, School Specialty undertake to sell its assets under Section 363 of the U.S. Bankruptcy Code. The Company must decide whether to accept this proposal, and what other options may be available.

Keywords

School Specialty; Bankruptcy; Section 363; Financing; Chapter 11; Capital Structure; Financing and Loans; Insolvency and Bankruptcy; Distribution Industry; Education Industry; United States

Citation

Gilson, Stuart C., and Kristin Mugford. "School Specialty, Inc." Harvard Business School Case 214-084, February 2014. (Revised March 2022.)
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About The Authors

Stuart C. Gilson

Finance
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Kristin W. Mugford

Finance
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Related Work

    • December 2015 (Revised December 2022)
    • Faculty Research

    School Specialty, Inc.

    By: Stuart C. Gilson and Kristin Mugford
    • February 2014 (Revised March 2022)
    • Faculty Research

    School Specialty, Inc.

    By: Stuart C. Gilson and Kristin Mugford
Related Work
  • School Specialty, Inc. By: Stuart C. Gilson and Kristin Mugford
  • School Specialty, Inc. By: Stuart C. Gilson and Kristin Mugford
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