Wilton completes restructuring

WOODRIDGE - Wilton Brands Inc. Monday said that its parent company, Wilton Holdings Inc., and its subsidiaries, have consummated a previously announced agreement with their largest creditors, an affiliate of TowerBrook Capital Partners L.P. and Deutsche Bank Trust Co. Americas, to recapitalize Wilton Holdings. As a result, TowerBrook Capital and Deutsche Bank have withdrawn the involuntary Chapter 11 petition filed against Wilton on July 17 with the U.S. Bankruptcy Court in Delaware. Affiliates of TowerBrook Capital and Deutsche Bank are the new majority owners of Wilton.