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Mercury to reorganize: Mercury Finance Co., which makes loans to people with poor credit ratings, said it will file for Chapter 11 protection within 60 days and that “substantially all” of its senior lenders agreed to restructure the company. Lake Forest-based Mercury said it would file a restructuring plan that reduces its debt. The company’s wholly owned subsidiaries aren’t included in the restructuring, and loans made by those groups will be paid, the company said. If approved by the federal bankruptcy court, senior lenders will receive notes equal to 75 percent of the face value of their current claims, the company said.
