… to find even more ways for us to sell, compete and grow together,” he said. “You may recall that our lenders had provided us with funding during this process and we are pleased to share that our lenders have agreed to provide us with additional financing that will total $59.5 million. Along with Fusion’s usual cash flows, this will ensure that we will be able to operate our business as usual and fulfill our commitments to our valued customers and other stakeholders.”
Fusion said all of its businesses are operating as usual. Its has filed first-day motions designed to allow it to maintain its employee wage and benefit programs, customer and agent programs, and vendor payments for goods and services delivered in the ordinary course of business, subject to court approval.
Fusion’s two Canadian subsidiaries are not included in the chapter 11 filing.
“Not sure about winners here (competitors may win in the short term), but the losers may be Fusion and its customers while it goes through this process,” Sapien said.