Douglas Furniture files Ch. 11

Engel, Clint; Evans, Gary
August 2008
Furniture/Today;8/4/2008, Vol. 32 Issue 47, p1
Trade Publication
The article reports that El Segundo, California-based Douglas Furniture has filed for Chapter 11 bankruptcy protection after years of declining sales and after its lenders cut off its financing. The company was not able to buy a buyer willing to pay more than its lender was owed. Douglas is asking the court to authorize its use of collateral cash to preserve the value of its business while it continues to seek a going-concern buyers or liquidators.


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