AMF Bowling files for Chapter 11

BOWLING centre operator AMF Bowling Worldwide says it has filed for Chapter 11 bankruptcy so it can implement a pre-arranged restructuring agreement.

Virginia-based AMF announced the bankruptcy filing and the agreement on Tuesday morning.

The agreement is with a majority of the company's first lien lenders and the landlord of a majority of its bowling centres.

AMF said in a statement it expects to complete the restructuring and leave Chapter 11 in about five months.

The company says the restructuring will eliminate a significant amount of outstanding debt.

Chief financial officer and chief operating officer Steve Satterwhite says the company needs financial flexibility to improve its bowling centres and make other long-term investments.

Bowling centres will continue normal operations during the restructuring.

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