NRC Sheds More Than Half of Its Outstanding Debt

Negotiations between the National Recycling Coalition (NRC) and its Washington landlord resulted in forgiveness of $800,000 in debt held by the organization, says NRC president Melinda Uerling. This eliminates more than half of the organization’s $1.5 million debt, and would seem to validate the recent decision by the NRC Board of Directors to suspend bankruptcy filings in favor of exploring alternate options.

The board will hold a conference call on Oct. 15 to discuss next steps as the NRC continues to reorganize.

TAGS: Financials