Red Apple Group Looks To Reorganize SemGroup

Thursday, December 18th 2008, 5:33 pm
By: News On 6

News On 6

TULSA, OK - The effort continues to save Tulsa's faltering SemGroup.  The chairman of the Red Apple Group plans to come to Tulsa on Monday to meet with SemGroup management about reorganizing the energy company.

Earlier this week, the New York-based company announced plans to work with creditors to repay SemGroup debts and preserve 2,000 jobs currently at risk.   

SemGroup filed for bankruptcy in July and planned to liquidate most of its assets, but the Red Apple Group says the company can still be saved.

They hope to have a preliminary plan ready next month.