5/13/2008
SIRVA Emerges from Bankruptcy
CHICAGO, May 12, 2008 — SIRVA, Inc., a global relocation services provider, announced that its Plan of Reorganization became effective today, ending its Chapter 11 case and marking the Company’s emergence from bankruptcy.
SIRVA’s Plan of Reorganization is the result of an agreement the Company reached in February with its lenders, who overwhelmingly supported its Plan of Reorganization. SIRVA’s exit financing consists of a $215 million senior secured credit facility, which will be used to fund ongoing operations and borrowings. Effective immediately, SIRVA will become a private company, and its stock will no longer be publicly traded.
About SIRVA, Inc.
SIRVA, Inc. is a leading provider of relocation solutions to a well-established and diverse customer base around the world. The Company handles all aspects of relocation, including home purchase and home sale services, household goods moving, mortgage services and home closing and settlement services. SIRVA conducts more than 300,000 relocations per year, transferring corporate and government employees along with individual consumers. SIRVA's well-recognized brands include Allied, Allied International, Allied Pickfords, Allied Special Products, DJK Residential, Global, northAmerican, northAmerican International, SIRVA Mortgage, SIRVA Relocation and SIRVA Settlement. More information about SIRVA can be found on the Company's Web site at www.sirva.com.
Investor Contact
Doug Gathany
SVP-Treasurer &
Investor Relations
630.468.4715
Media Contacts
United States
Jennifer Lowney
Christina Stenson
Brunswick Group
212.333.3810
Europe
Jonathan Glass
Brunswick Group
44.20.7404.5959
1-800-444-6787
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