Tiger Woods retains support of TLC Vision Corp. while it looks for Bankruptcy Protection
We recently reported that the eye care services company were to continue to support Tiger Woods in sponsorship despite his recent personal problems and when many other large companies were either pulling sponsorship or reconsidering campaigns. The jynx appears to continue as now TLC Vision Corporation has now sought Bankruptcy Protection to rterstructure its debt.
The story reported in Bloomberg Online said that TLC Vision had reached an agreement before the filing with some senior lenders to restructure debt. To expedite the process a pre-arrange plan was included. The plan provides for conversion of some debt to 100 percent of new equity of TLC Vision (USA), which will emerge as a private company, TLC said in a statement,
“Our relationship with Tiger Woods continues without change.”