On July 21, 2009, Quebecor World Inc. and its affiliated debtors announced that they emerged from creditor protection under the CCAA and Chapter 11 of the U.S. Bankruptcy Code. Quebecor announced that it had completed its Canadian and U.S. reorganization plans, closed a US $800 million exit financing facility and had drawn down approximately US $540 million with which it repaid its debtor in possession (DIP) facility.
Quebecor also announced that its previous share structure has been cancelled and that it issued (in escrow) new shares and warrants. The initial distribution to creditors and listing and market trading on the Toronto Stock Exchange is expected to occur by the end of August. Quebecor Group entities will change their names to World Color Press Inc.
Quebecor provides marketing, advertising and print services to retailers, cataloguers, branded-goods businesses and publishers. It has 90 printing and related facilities in the U.S., Canada, Argentina, Brazil, Chile, Colombia, Mexico and Peru.