March 1, 2017 / 6:13 AM / 6 months ago

BRIEF-BCBG filed Chapter 11 plan of reorganization

March 1 (Reuters) - Bcbg Max Azria Group Inc

* BCBG takes next step in repositioning its brands through chapter 11 reorganization

* Has obtained a commitment of $45 million in new financing and also filed a chapter 11 plan of reorganization

* Canadian affiliate commencing separate filing for voluntary reorganization proceedings under canada's bankruptcy and insolvency act

* Certain term loan lenders during course of chapter 11 process have committed to provide new financing of up to $45 million

* DIP financing will be used for ordinary working capital purposes and to ensure normal operations during chapter 11 process

* Also taking steps to close its freestanding stores in canada, and consolidate its operations in europe and japan

* Expects to complete reorganization within six months; stores will remain open during this process Source text for Eikon: Further company coverage:

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