Stakeholders
MCC has entered into a restructuring support agreement ("RSA") supported by holders of approximately 72% in amount of MCC's secured first lien debt and our majority owner, CD&R.
This transaction will significantly deleverage MCC's balance sheet, reducing its net debt load from approximately $5.9 billion to approximately $2.0 billion. The RSA also contemplates that CD&R and a group of MCC's existing secured lenders will provide an $889 million new common and preferred equity investment that will support long-term growth and investment.
Upon emergence, MCC will have more than $550 million of liquidity.
This new investment and reduction in debt will provide additional financial flexibility to support ongoing operational improvements and future growth initiatives. The agreement reflects a strong vote of confidence by MCC’s majority owner and lenders.
To implement the agreement with its lenders, MCC commenced a prepackaged Chapter 11 filing on January 29. A prepackaged filing means we have sufficient lender support to proceed through Chapter 11 on an expedited timeline.
On February 2, 2026, the U.S. Bankruptcy Court for the District of New Jersey (the “Court”) granted approval for MCC’s “first day” motions. The approval affirms that the Company will operate in the normal course, pay all trade vendors and suppliers in full, and maintain a strong liquidity position during the financial restructuring.
The Court approved the Company's proposed Chapter 11 timeline, and the Court will consider confirmation of the Company's plan of reorganization on March 31. We will be working as expeditiously as possible to successfully emerge from this process.
This approval included, among other things, immediate access to $125 million of the $250 million debtor-in-possession (“DIP”) financing that certain of MCC’s secured lenders and current owner have committed to provide. This funding will capitalize the business through the initial stages of the prepackaged Chapter 11 process.
MCC’s global operations will continue in the normal course throughout the prepackaged Chapter 11 process. Your pay and benefits will continue as normal, and our commitment to our customers and partners remains unchanged.
Please refer to the FAQs page for additional information about this financial restructuring process.
On January 27, 2026, MCC announced strategic actions to further position the company for long-term growth and investment to best serve its customers.
MCC has entered into a restructuring support agreement (“RSA”) supported by holders of approximately 72% in amount of MCC's secured first lien debt and our majority owner, CD&R.
This transaction will significantly deleverage MCC's balance sheet, reducing its net debt load from approximately $5.9 billion to approximately $2.0 billion. The RSA also contemplates that CD&R and a group of MCC's existing secured lenders will provide an $889 million new common and preferred equity investment that will support long-term growth and investment.
Upon emergence, MCC will have more than $550 million of liquidity.
To implement the agreement with its lenders, MCC commenced a prepackaged Chapter 11 filing on January 29. A prepackaged filing means we have sufficient lender support to proceed through Chapter 11 on an expedited timeline.
On February 2, 2026, the U.S. Bankruptcy Court for the District of New Jersey (the “Court”) granted approval for MCC’s “first day” motions. The approval affirms that the Company will operate in the normal course, pay all trade vendors and suppliers in full, and maintain a strong liquidity position during the financial restructuring.
The Court approved the Company's proposed Chapter 11 timeline, and the Court will consider confirmation of the Company's plan of reorganization on March 31. We will be working as expeditiously as possible to successfully emerge from this process.
This approval included, among other things, immediate access to $125 million of the $250 million debtor-in-possession (“DIP”) financing that certain of MCC’s secured lenders and current owner have committed to provide. This funding will capitalize the business through the initial stages of the prepackaged Chapter 11 process.
MCC’s global operations will continue as usual throughout the prepackaged Chapter 11 process. There is no impact to our customers, and we remain fully focused on delivering the service, quality, and partnership you expect from us. The agreement reflects a strong vote of confidence by MCC’s majority owner and lenders.
Your primary contact at MCC remains unchanged, and we are available to answer any questions you may have.
Please refer to the FAQs page for additional information about this financial restructuring process.
Additional information regarding the prepackaged Chapter 11 process is available at MCCForward.com or www.veritaglobal.net/MCC. Stakeholders with questions can contact the Company’s claims agent, Verita, by calling (866) 967-1788 (U.S./Canada toll free) or +1 (310) 751-2688 (International) or submitting an inquiry to www.veritaglobal.net/MCC/inquiry.
On January 27, 2026, MCC announced strategic actions to further position the company for long-term growth and investment to best serve its customers.
MCC has entered into an agreement supported by a group of holders of approximately 72% in amount of MCC's secured first lien debt and its majority owner, CD&R.
As part of this agreement, CD&R and a group of MCC's existing secured lenders will provide an $889 million new common and preferred equity investment that will support long-term growth and investment. Upon emergence, MCC will have more than $550 million of liquidity.
The transactions contemplated in the restructuring support agreement will significantly deleverage MCC's balance sheet, reducing its net debt load from approximately $5.9 billion to approximately $2.0 billion.
To implement the agreement with its lenders, MCC commenced a prepackaged Chapter 11 filing on January 29. A prepackaged filing means we have sufficient lender support to proceed through Chapter 11 on an expedited timeline.
On February 2, 2026, the U.S. Bankruptcy Court for the District of New Jersey (the “Court”) granted approval for MCC’s “first day” motions. The approval affirms that the Company will operate in the normal course, pay all trade vendors and suppliers in full, and maintain a strong liquidity position during the financial restructuring.
The Court approved the Company's proposed Chapter 11 timeline, and the Court will consider confirmation of the Company's plan of reorganization on March 31. We will be working as expeditiously as possible to successfully emerge from this process.
This approval included, among other things, immediate access to $125 million of the $250 million debtor-in-possession (“DIP”) financing that certain of MCC’s secured lenders and current owner have committed to provide. This funding will capitalize the business through the initial stages of the prepackaged Chapter 11 process.