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Charlotte-based cleaning and waste disposal company Swisher Hygiene has negotiated two more weeks to file its restated financial results, according to an amended credit agreement filed Thursday – the company’s ninth extension.
The company is in the midst of an internal financial review that will likely cause it to reveal millions more in losses than previously disclosed.
The amendment to Swisher’s borrowing facility, which is administered by Wells Fargo, gives the company until Nov. 16 to file restated financial results. Swisher said it can’t provide any assurance it will file its results by then.
Swisher also agreed to deposit up to $5.34 million in cash in a new special collateral account controlled by Wells Fargo, according to Thursday’s agreement.
The cleaning company, founded in Charlotte, has run into trouble before. In the early 2000s, Swisher was fined by the SEC for accounting irregularities. Founder Patrick Swisher was sent to federal prison for tax evasion.
