Cole guarantees access to US$950 million to continue operations during the judicial recovery in the USA

This Monday, Coles received approval from the US Bankruptcy Court for the Southern District of New York. For legal financial restructuring of the company. Gol has been approved to access US$950 million in “debtors in hand” (DIP) financing and will seek final approval to fully access the financing at a hearing in the coming weeks.

Last Thursday, the company announced that it had filed for judicial recovery in the United States. According to the company, the move is necessary to raise capital and restructure its finances.

According to the company, approvals are guaranteed that Cole will operate normally during this process. With the approval, Kohl says it will honor all obligations with business partners and suppliers of goods and services provided from the start date of the process, in addition to paying employees.

“With access to resources, Kohl will continue to offer low-cost, safe flights and reliable services that provide customers with a better travel experience. Customers can continue to organize and fly trips, including purchasing and redeeming miles accumulated through the Smiles loyalty program, using tickets and vouchers. Likewise, Kohl's code sharing and Interline contracts will be available to customers,” the company said in a note.