Custom HBC Completes Financial Restructuring

Larry Wilhelm, CEO of Custom HBC Corporation, Waconia, Minn., announced today that the company had completed the initial phase of its voluntary financial restructuring plan.

As previously reported, Custom HBC initiated a voluntary financial restructuring effort with its unsecured trade creditors to reduce its overall trade debt and improve cash flow. This was a proactive approach taken by the company upon advice of its financial advisors to be in the best interest of the company and its creditors.