Report: Hawker Beechcraft Closing In On Bankruptcy

By: Wichita Business Journal Email
By: Wichita Business Journal Email

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May 2, 2012

Hawker Beechcraft Corp. is in the final stages of preparing a bankruptcy filing — a filing that could come as early as Thursday, according to a report from the Wall Street Journal.

The report, which cites unnamed sources familiar with the matter, says Hawker has reached a debt restructuring deal with its lenders and will soon turn over ownership to “several hedge funds” following a Chapter 11 filing.

Rumors of bankruptcy have swirled around the troubled Wichita-based aircraft builder for months. Hawker acknowledged in its recent annual report with the U.S. Securities and Exchange Commission that bankruptcy was one option it was considering.

The company last month handed out about 350 layoff notices and also filed with the SEC to de-register its bonds.

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