As you know, on June 9, Safelite entered into a court-protected financial restructuring. At that time, we promised you three things:

1. All network shops would be paid in full, on time, as long as properly completed invoices were submitted
2. Safelite would do their best to communicate throughout the restructuring process
3. We would emerge from the restructuring process in September. 

We've delivered on all of those commitments. No shop was denied payment as a result of our Chapter 11 filing. Throughout the court process, independent shops were paid on a timely basis for all valid invoices that met insurance and fleet company payment criteria. In fact, during the debt restructuring, we took the unusual step of paying network shops before we billed the insurance companies. 

We have sent out letters, answered your questions over the phone and via email, and posted updated communications on our sgcnetwork.com website. On September 12, Safelite's restructuring plan was approved. That means that we will emerge from court protection within a few weeks, after all appropriate paperwork is completed. 

What are the results of our restructuring? As we've said all along, Safelite has been able to eliminate more than half of its long-term debt. Our new owners are the banks and bondholders that exchanged that debt for equity in the company, and our management team remains the same.

I want to thank you for your continued participation in the SGC Network over the past few months. We look forward to continuing to help you maximize your relationship with SGC Network by sending referrals from both our AIC and Affiliate networks and by providing tools like SGC Network.com to make doing business with us easier for you. 


Sincerely,


Bill Cogswell
Senior Vice President, Network Operations
SGC Network