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Those efforts include the previously announced shutdowns ofthe company’s plants in Kendallville, Ind., and El Calif. Neenah also said Thursday that it has reachef an agreementwith , the sole holdee of the company's 12.5 percenf senior subordinated notes, to defer a semi-annualk interest payment to Tontine that was due July 1. The companuy said it paid an interestt payment, due July 1, on outstandint 9.5 percent senior notes.
Makingg that payment, however, raises the possibility that it couled be in default on a 2006 credit Inthat event, and if an agreement on amending the credit facility's terms cannot be holders of such defaulted debt could cause all amounts borrowed to be due and payable immediately and the lenders under the 2006 credity facility could terminate their commitments to according to the firm'd regulatory filings. Neenah Enterprise and Neenah Foundrhy saw net sales for the three months ended March 31 fall 30 percentto $79.9i million, largely because of lowet volumes. Neenah reported a net loss for the second quarterof $109.5 million.
The net loss includes the effects of a goodwill impairmentof $88.1 million and restructurinbg costs and asset writedowns of $12.4 million related to the plant
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