TITLE

Last-minute deal saves Kingsbury from auction block

AUTHOR(S)
SANDERS, BOB
PUB. DATE
October 2011
SOURCE
New Hampshire Business Review;10/21/2011, Vol. 33 Issue 22, p14
SOURCE TYPE
Periodical
DOC. TYPE
Article
ABSTRACT
The article reports on the reprieve won by the bankrupt Kingsbury Corp. following a confidential deal to partially pay off its creditor that was preparing to auction its equipment in Keene, New Hampshire. The company owed 1.25 million to Florida-based Utica Leaseco LLC, which claimed to have the right to hold an auction to sell the Kingsbury's equipment following its move of filing Chapter 11 protection. However, the company paid Utica to prevent it from pursuing its plan.
ACCESSION #
67254891

 

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