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