Quebecor World -- Back on Top of Its World

Oddly enough, it was the preparation made by Quebecor World before filing for protection that made for a smoother journey to bankruptcy’s exit ramp.

“At filing, we put in place $1 billion DIP (debtor-in-possession) financing,” Mallette notes. “That was well received by the market. We have the confidence of lenders, and there’s no way we’re going to need any more cash than that. Secondly, we put together a well-prepared communication plan. Within two hours after we filed, we reached the vast majority of customers, suppliers and employees. Very often, it’s the early stage where you can run into major issues.