twice connect
careers

O’Sullivan To Declare Ch. 11

10/17/2005 09:45:00 AM Eastern

Roswell, Ga. - Ready-to-assemble furniture maker O’Sullivan Industries Holdings will file for Chapter 11 bankruptcy protection.

At the same time, the company will file a plan of reorganization and a disclosure statement - the material economic terms of which have the support of holders of about 83 percent of the company’s senior secured notes, said O’Sullivan. The plan must be approved by the U.S. Bankruptcy Court for the Northern District of Georgia in Atlanta.

O’Sullivan said it has received a commitment for up to $35 million of debtor-in-possession financing, which, together with funds from operations, should provide the liquidity necessary to enable the company to meet its obligations to suppliers, customers and employees during the reorganization.

The company said the filing would not cause a reduction in the size of its workforce, and it said it has sufficient inventory to keep customers supplied. It also intends to provide interrupted service during the reorganization.

PHOTOS
ProSource Meeting Filled With Optimism

San Antonio — Optimism reigned at ProSource’s

Ingram Draws 500 To Spring Vendor Expo

Scottsdale, Ariz. — Ingram Micro Consumer

CEA Holds ’14 Digital Patriots Dinner

Washington — CEA held its annual Digital Patriots’

8 Technology Accessories For a Greener Earth

An Earth Day review of Earth-friendly products, by

BrandSource Shows Diverse Product Selection

BrandSource’s Summit show at the Marriott World

Scenes From Toy Fair

By Lisa Johnston

ADL Honors Morales, Bilas, Paull, Weedfald At Annual Dinner

New York — The Anti-Defamation League’s National