Questex Media Group Reaches Agreement with Lenders, Strengthens Capital Structure

Questex Media Group, the parent company of Travel Agent magazine, Luxury Travel Advisor, TravelAgentCentral.com, LuxuryTA.com, Luxury Travel Expo and Travel Agent Custom Solutions, reports that it has reached an agreement with its senior lenders that allows it to reduce the company’s debt and strengthen its capital structure.

The agreement, which essentially provides a restructuring of the company’s balance sheet, has absolutely no impact on its day to day businesses, meaning that all of the properties in the Travel Group, above, will continue to operate in a business-as-usual format.

Based on the strength of the company’s business plan, the senior lenders have committed financing as a part of the filing, including both debtor-in-possession (DIP) financing and exit financing. In fact, it’s expected that the company’s senior lenders will purchase all of the assets of the company over the next 60 days, ensuring that it emerges from its voluntary Chapter 11 status.

Questex Chief Executive Officer Kerry Gumas said, “We are pleased with the strong support we have received from our lenders and business partners for a restructuring that will allow us to reduce our debt and achieve a strong, sustainable capital structure.  Questex has attractive assets, market-leading brands, a great talent base of professionals and a track record of performance that has allowed us to continue to generate strong cash flows.  This restructuring will better position the business for future growth for the benefit of all of the company’s stakeholders.”

“Questex’s top priority is serving our valued customers,” Mr. Gumas continued. “This restructuring will enable our team members to remain focused on creating and delivering the superior products and services our customers have come to expect.”

About Questex Media Group Holdings, Inc.

Questex Media Group Holdings, Inc. is a global, diversified business-to-business media organization serving multiple industries including hotel and hospitality, travel, technology, beauty, spa, among numerous other specialty industries with its well-established, market-leading, events, publications, digital and interactive media, research, and other marketing and media related services. The company's combined operations include approximately 400 employees in offices throughout North America, South America, Asia and Europe.

For more information, visit www.questex.com.
 

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