Corinthian bids to acquire assets of PeopLoungers

Engel, Clint; Gunin, Joan
July 2007
Furniture/Today;7/16/2007, Vol. 31 Issue 44, p4
Trade Publication
The article reports that upholstery maker Corinthian Inc. has bid to purchase the assets of motion specialist PeopLoungers Inc., which filed for Chapter 11 bankruptcy protection early in 2007. PeopLoungers has opted for what is called a 363 auction of its assets, which could generate additional bids. If Corinthian succeeds in the acquisition, the plan is to continue using the PeopLoungers name.


Related Articles

  • PeopLoungers continues operations.  // Furniture/Today;8/27/2007, Vol. 31 Issue 50, p6 

    The article reports on the plan of PeopLoungers Inc., which is in Chapter 11 bankruptcy proceedings, to continue operating despite an effort by the Bank of New Albany to get the motion furniture producer to sell its assets in Nettleton, Mississippi. The company argued in federal bankruptcy court...

  • PeopLoungers in Ch. 11. Evans, Gary // Furniture/Today;5/21/2007, Vol. 31 Issue 36, p1 

    The article reports that motion furniture manufacturer PeopLoungers expects to emerge from Chapter 11 bankruptcy. A court has granted the company permission to obtain debtor-in-possession financing to continue production and shipping. The company filed for Chapter 11 bankruptcy in May 2007. It...

  • Turnarounds--Confronting the Challenges of the 2000s. Scherrer, Phillip S. // Business Credit;Mar2002, Vol. 104 Issue 3, p25 

    Focuses on the challenges faced by the creditors in the year 2000. Reasons companies files bankruptcy; Significance of using debt to take control of asset value; Role of creative incentives to entice creditors cooperation on turnaround management.

  • Buying Assets Out of Bankruptcy: Procedural Hurdles to Bargain Bonanza. Brinkman, Daren R. // Business Credit;Oct98, Vol. 100 Issue 9, p12 

    Focuses on the advantages of purchasing assets out of bankruptcy, while highlighting the procedures involved in the sale of debtors' assets and the assignment of its contracts in bankruptcy proceedings. Analysis of the bankruptcy sale process; Role of the bankruptcy code in the proceedings;...

  • Use of Cross-Border Insolvency Protocols on the Rise. Fitz-James, Michael // Corporate Legal Times;May2002, Vol. 12 Issue 126, p4 

    Focuses on the plan to help the bankrupt companies to recover in financial problem. Creation of protocols; Preservation of corporate assets; Observation on the flow of the other companies. INSET: Principles for Managing International Bankruptices in NAFTA....

  • Business bankruptcies peaked in 2001. St. Onge, Jeff // Las Vegas Business Press;1/14/2002, Vol. 19 Issue 2, p14 

    Focuses on bankruptcy court protection in the U.S. Number of traded companies filed for bankruptcies; Assets of companies entering bankruptcies; Lists of largest bankruptcies.

  • BUYERS' MARKET FOR PROPERTY. Tydd, Judith // BRW;5/13/2010, Vol. 32 Issue 18, p55 

    The article reports that the increasing sales of distressed property assets and insolvencies in Australia means more advisory and transactional work for lawyers in the country.

  • PeopLoungers gets loan, will continue to cut costs. Evans, Gary // Furniture/Today;6/11/2007, Vol. 31 Issue 39, p2 

    The article reports that PeopLoungers Inc. has secured a $9.5 million in financing to support its restructuring and to continue its operations. The report says that PeopLoungers has secured its loan from Capital Business Credit LLC of New York. According to reports, PeopLoungers has filed for...

  • PeopLoungers seeks approval for stalking horse bidder.  // Furniture/Today;7/23/2007, Vol. 31 Issue 45, p90 

    The article reports on the request of PeopLoungers, an upholstery specialist to the U.S. Bankruptcy Court to approve Republic Financial Corp., as a following bidder for the company's sale in Nettleton, Mississippi. The company files a bankruptcy emphasizing that they owned an estimated of $5.7...


Read the Article


Sorry, but this item is not currently available from your library.

Try another library?
Sign out of this library

Other Topics