(15.11.2021)
CWT announced plans to invest $ 100 million
the travel management platform myCWT on the way into the future
implement its previously announced recapitalization plan.
That plan was approved by a court on Friday.
in an expedited legal process with the overwhelming support of
CWT’s financial stakeholders.
The recapitalization plan provides $ 350 to CWT
Millions of new equity to reinvest in the business,
eliminates about half of the company’s debt and offers
for all business partners and other goods suppliers and
Pay for services to CWT in full.
Michelle
McKinney Frymire, CWT’s chief executive officer, said, “We
are pleased about the timely judicial approval of the
Agreement we made with CWT’s financial stakeholders who
positions the company successfully in the long term and offers
substantial financial resources for the further growth and development of our
Company.
« Having reached this important milestone, we are now in a position to do so
to overcome the pandemic and accelerate investments that create
innovative programs and industry leading experience including a
expanded myCWT platform. As business travel continues to recover,
We look forward to building on our momentum and evolving
our strategic priorities for the benefit of our customers,
Partners and other stakeholders and delivers exceptional
Experiences for our customers, travelers and participants.
“On behalf of the management team, I would like to thank all of our CWTs
Colleagues for being in spite of them
the challenges posed by the pandemic. I am incredibly proud of
the many improvements that we have already implemented create a strong one
Foundation for our future. I would also like to thank our financials
Stakeholders for their continued support and trust in CWT,
our strategy and services and above all our great employees. «
–
Ensure CWT’s financial stakeholders become part of the company’s business
new owners; and
– Provision for all business partners and others
To pay suppliers of goods and services to CWT in full.
The initial of the company
The $ 100 million investment in myCWT is focused on expansion
CWT omni-channel content,
Trip comparison options, analytical reporting and selection
and availability of sustainable travel solutions for others
Improvement of the point-of-sale experience for travelers and carbon
Footprint details to enable better informed decision making.
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