Vertis Opts for Prepackaged Chapter 11 Filing

BALTIMORE—Vertis Holdings announced that it has elected to complete its previously announced refinancing plan through a voluntary, prepackaged Chapter 11 filing. The recapitalization is expected to strengthen Vertis’ capital structure by reducing the company’s total debt by approximately 60 percent, or $700 million, while substantially lowering interest costs, extending maturities and increasing liquidity.