January 30, 2023
In response to a creditor agreement and a new $1 price goal, Carvana's stock fell amid

In response to a creditor agreement and a new $1 price goal, Carvana's stock fell amid

In response to a creditor agreement and a new $1 price goal, Carvana’s stock fell amid worries about bankruptcy.

According to sources familiar with the situation, Bloomberg News reported on Tuesday that a group of Carvana’s ten largest lenders, who collectively hold around $4 billion of the company’s unsecured debt, have agreed to work together in the event of a restructuring for a three-month period.

The report lists PIMCO and Apollo Global Management as creditors.

A Carvana spokesman told Yahoo Finance that the company was not a part of any cooperative agreement among bondholders and that it would not be responding to any inquiries regarding the measures that such bondholders had taken.

In response to a creditor agreement and a new $1 price goal, Carvana's stock fell amid

“Our message to our stakeholders—customers, shareholders, employees, and others—remains unambiguous: we are solely committed to carrying out the plan to profitability.