AMF Bowling Worldwide Inc. wants to move forward with a restructuring that would see its senior lenders take over the bowling-alley chain after not being able to find a buyer, Dow Jones Daily Bankruptcy Review reported today. AMF sought chapter 11 protection last November after its senior lenders agreed to take over the company if it could not find any better offers. Under the plan, the Credit Suisse-led lender group would trade about $214 million in debt for all of the new equity in the restructured AMF, subject to dilution.
