Benada files for Chapter 11 protection
Aug 02, 2012 | 04:00 PM
| Suzy Waite
NEW YORK Benada Aluminum Products LLC, an extruder in Sanford, Fla., filed for Chapter 11 bankruptcy protection Aug. 1, citing estimated assets and liabilities of between $10 million and $50 million.
"The weak economy has directly impacted Benada such that it has not been able to make payments to its creditors and is experiencing significant cash flow issues," counsel for Benada wrote in documents filed with U.S. Bankruptcy Court in Florida.
A number of metals companies are among Benadas 20 largest unsecured creditors, including billet supplier Norsk Hydro ASA ($1.4 million), Glencore Ltd. ($252,928), Hunter Douglas Metals Inc. ($236,656) and Noble Group ($61,414).....
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