Jackson Hewitt Tax Service Inc. (fka JHTXQ)

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Jackson Hewitt Falls 24% After Lenders Amend Credit AgreementBY Midnight Trader
— 11:47 AM ET 05/02/2011
11:47 AM Eastern Daylight Time, 05/02/2011 (MidnightTrader) -- Jackson Hewitt (JTX) is down after it said its lenders amended a credit agreement, delaying a principal payment and the possibility of a pre-packaged bankruptcy. The amendment extends the date by which the company has to make a $30 million principal payment, due April 30, to May 20, it said in a SEC filing, according to Reuters. The amendment also gives the company time until May 20 to work with the lenders to agree upon a 'mutually satisfactory restructuring' of its balance sheet, Reuters reports. Jackson Hewitt shares are down 24.3%. Price: 0.394, Change: -0.127, Percent Change: -24.34
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