Lee Enterprise stock jumps after company gets OK to exit bankruptcy

Lee Enterprise stock nearly doubled in price to $1.71 a share earlier this week after news the company had received approval to exit bankruptcy and complete its planned debt refinancing.

The Davenport-based publisher of 48 newspapers, including the Quad City Times, filed for voluntary bankruptcy December 12, 2011 in order to get a small group of lenders bound to terms of the refinancing.

Lee stock had traded last April at just over $3 a share, but the price had fallen to as low as 53 cents a share in early December. A week ago the stock was trading at 89 cents a share, but news of the bankruptcy exit pushed the price to $1.71 Wednesday (1/25). The stock closed Thursday at $1.36 per share.

CLICK HERE for details of the company's bankruptcy exit and debt refinancing from Rueters News Service.

CLICK HERE to download the company's new release on the bankruptcy exit and refinancing.