Champion Reports Net Losses for Second Quarter and First Six Months

“We have been able to continue to successfully operate our businesses while devoting substantial efforts, funds and resources to identify an appropriate deleveraging path with our secured lenders. As a result of these actions we incurred approximately $1.1 million in increased professional fees primarily associated with actions associated with our credit facilities,” Reynolds continued. “The company continues to work diligently to implement a restructuring plan submitted to our secured lenders and we believe certain facets of this plan will improve overall productivity and efficiency of the company, which should result in enhanced results and benefit all interested parties.