Select Staffing, which provides temporary staffing services in a variety of industries, filed for chapter 11 protection yesterday after reaching a restructuring deal with its lenders, Dow Jones Daily Bankruptcy Review reported today. The family-owned company is seeking a quick restructuring by way of a pre-packaged chapter 11 plan, for which it has already secured the support of many of the lenders who would own the reorganized company. The plan would raise $225 million in new equity capital and $470 million in new debt to pay its creditors and continue funding its operations.
