OMAHA, Neb.--(BUSINESS WIRE)--Oriental Trading Company, Inc., the nation’s largest direct merchant of value-priced party supplies, arts and crafts, toys and novelties, and a leading provider of school supplies and affordable home décor and giftware, today announced the completion of its reorganization efforts and successful exit from bankruptcy. The company emerged with a significantly improved capital structure and strong liquidity, having reduced its debt by nearly 70%.
“Today marks the beginning of a new era of growth for Oriental Trading Company. Our new capital structure provides us with a sustainable, long-term financial foundation from which we will drive the future growth of the business,” said Sam Taylor, CEO of Oriental Trading Company. “Business performance has stabilized over the last twelve months with revenues growing, continued double-digit operating margins, and record-high customer satisfaction.”
Oriental Trading Company received court approval of its plan of reorganization and secured exit financing in less than six months. The swift emergence from bankruptcy reflects the company’s strength and ensured that the restructuring process did not interfere with the smooth operation of the company’s business – a priority for the organization. New ownership is comprised of a group of investors that formerly held the company’s senior debt.
“We appreciate the support of our customers, business partners, and lenders during the past six months as we worked through the restructuring process,” Taylor said. “In particular we want to thank our dedicated and talented employees who remained focused on delivering the same exceptional customer service and quality products that our customers have come to expect from Oriental Trading Company.”
About Oriental Trading Company
Oriental Trading Company is the nation’s largest direct merchant of value-priced party supplies, arts and crafts, toys and novelties, and a leading provider of school supplies and affordable home décor and giftware. Recognized as one of the Top 50 Catalog Companies and one of the Top 10 Online Retailers for Customer Satisfaction, Oriental Trading Company employs approximately 2,000 employees and offers more than 30,000 products to individuals, teachers, schools, churches, businesses and not-for-profit organizations. From pink flamingos, party supplies and grass skirts to holiday decorations, scrapbooking supplies, and crafts, Oriental Trading Company makes the world more fun! www.orientaltrading.com.