WICHITA, Kan. (AP) _ Hawker Beechcraft is narrowing down a list of potential buyers as part of its plan to emerge from bankruptcy reorganization.
The Wichita Eagle reports the aircraft maker disclosed in court documents that along with its investment banker, it developed a list of potential buyers and investors in the months preceding its May 3 filing for Chapter 11.
The details are included in a preliminary reorganization plan and a related disclosure statement that Hawker Beechcraft filed over the weekend with the federal Bankruptcy Court in New York. The company says it began with an initial field of 35 potential buyers and received bids last month from eight.
The prearranged bankruptcy plan is aimed at reducing the company's total funded debt of more than $2.5 billion.