NU-KOTE FILES FOR CHAPTER 11

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NU-KOTE FILES FOR CHAPTER 11

 user 2009-06-09 at 10:42:35 am Views: 91
  • #22224

    http://www.rnews.com/content/business/local_business/473963/nukote-files-for-chapter-11/?RegionCookie=2004
     Nukote Files for Chapter 11
    Printing
    supplies maker Nukote International, which has its North American
    headquarters in Rochester, has filed for Chapter 11 bankruptcy
    protection.

    The filing in U.S. Bankruptcy Court in
    Nashville, Tennessee states that Nukote, and four subsidiaries
    including Envirosmart, owe about $14.5 million to their top 20
    unsecured creditors.The company listed assets worth $86 million and
    liabilities at $79 million. The company makes imaging supply products
    for ink jet printers, laser printers, copiers and fax machines.Media
    reports in Tennessee quote a spokesman for Nukote majority owner
    Richmont Holdings saying there are no job cuts planned as a result of
    the bankruptcy filing.The filing indicates that Nukote has about 1,100
    employees worldwide. We have a call in to the local Nukote Operation
    for comment.

    http://www.tennessean.com/article/20090604/BUSINESS01/906040317/1003/BUSINESS/Nukote++subsidiaries+file+for+bankruptcy
    Nukote, subsidiaries file for bankruptcy
    Printer cartridge maker Nukote International and four of its
    subsidiaries filed for Chapter 11 bankruptcy protection on Wednesday in
    U.S. Bankruptcy Court in Nashville.
    The company is based in Plano, Texas, but had operations around the
    world, including a plant in Mexico and a distribution center in
    Franklin that employs 29 people.Nukote said in a court filing that it
    had 1,100 employees, $86 million in assets and about $79 million in
    debts as of March 31.A spokesman for Nukote, Russell Mack, declined to
    describe the reasons for the bankruptcy filing, but emphasized that the
    company would continue to operate and no changes are in store for the
    Franklin operations.Nukote last filed for bankruptcy protection in
    1998. Nukote is a privately owned part of Richmont Holdings, which is
    not filing for bankruptcy protection