This is a summary of an article originally published by Law360. Read the full article here.

Cole Schotz PC and Kirkland & Ellis LLP are advising STG Logistics Inc. through its Chapter 11 restructuring in New Jersey, as the freight and logistics company seeks to significantly reduce its debt and emerge from bankruptcy within approximately five months.

STG entered Chapter 11 with up to $10 billion in liabilities and a restructuring agreement designed to reduce approximately 91% of its debt. The agreement also provides for $150 million in new financing to support the company’s operations during the proceedings.

The Cole Schotz team includes Michael D. Sirota, Felice R. Yudkin, Daniel J. Harris and Warren A. Usatine, each of whom brings experience advising clients through significant Chapter 11 matters.

Sirota, co-chair of the firm’s Bankruptcy & Corporate Restructuring Department, has advised clients including WeWork and Bed Bath & Beyond. Yudkin has worked on restructurings involving David’s Bridal, BlockFi and WeWork, while Harris has advised National Realty Investment Advisors and WeWork. Usatine, a co-chair of the Litigation Department, has been involved in Chapter 11 matters including Rite Aid, BlockFi and WeWork.

STG is targeting an emergence from Chapter 11 before midyear.

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