TITLE

Prudential Americana set to try to emerge from bankruptcy

AUTHOR(S)
O'Reiley, Tim
PUB. DATE
July 2008
SOURCE
Las Vegas Business Press (10712186);7/7/2008, Vol. 25 Issue 27, pP9
SOURCE TYPE
Periodical
DOC. TYPE
Article
ABSTRACT
The article discusses the efforts of chief executive officer (CEO) and sole owner Mark Stark to raise Prudential Americana from bankruptcy. When Stark failed to pay his loan and franchise payments, he filed for Chapter 11 bankruptcy, laid off several staff, and slashed $4.8 million for annual spending. Despite these efforts, Judge Bruce Markell believes that the firm's capital structure looks thin. The article also discusses the payments that the firm's outside brokers will receive during the hearing.
ACCESSION #
33133358

 

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