Northstar Aerospace forbearance extended through June 4 from May 14

New York, May 14 - Northstar Aerospace, Inc.'s forbearance agreement with a syndicate of credit facility lenders has been extended through June 4, according to a news release.

The forbearance period was previously scheduled to expire on May 14 and before that it has been extended multiple times.

Northstar said its management is exploring strategic alternatives. These may not result in any value for its stakeholders after the secured debt is repaid, the company added.

The company said significant doubt remains regarding its ability to continue as a going concern.

Northstar is a Chicago-based maker of flight critical gears and transmissions.

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