Global Solutions for People, Programs & Process
Versar provides exceptional value to any project because of our active process management, effective communication, and advanced quality control methods. Customer satisfaction is our top priority. We understand that every client has unique needs and we tailor our services accordingly. All client deliverables are custom designed to service the specific requirements of each task. We ensure on time and on-budget delivery.
Having a Global footprint is a huge advantage to Versar customers no matter where they work. From the harshest environments to the most dangerous regions, Versar maintains a robust database of experts across all services that is constantly updated and expanded. Versar human resource and database management are vital elements of your success.
December 5, 2016
Springfield, VA - December 5, 2016 - Versar, Inc. (NYSE MKT: VSR) today announced that the Company and Bank of America have agreed to amend their original Loan Agreement. This agreement, which is reflected in a term sheet dated December 2, 2016, will provide the Company with adequate liquidity to continue to operate and will modify the Company?s loan covenants going forward. In addition, Versar will regularly report financial performance to Bank of America, retain its Chief Restructuring Officer and will continue to work with a financial advisor in order to fulfill the requirements of the amended Loan Agreement.
November 1, 2016
Springfield, VA - November 1, 2016 - Versar, Inc. (NYSE MKT: VSR) today announced that it has entered into a fifth forbearance agreement with Bank of America with a term extended through November 30, 2016. As noted in the Company?s September 30 Press Release and Current Report on Form 8-K filed with the Securities and Exchange Commission, Versar has continued to operate within the obligations established by the prior forbearance agreements and continues discussions with various lenders to establish a replacement credit facility to provide adequate liquidity for the Company.