Wilton Chp 11

Decorating By serialbabe1968 Updated 21 Jul 2009 , 7:24pm by CeeTee

serialbabe1968 Posted 21 Jul 2009 , 2:45pm
post #1 of 4

July 21, 2009

Creditors move to force Wilton into bankruptcy
Two creditors with a total of $208.7 million in claims against Wilton Holdings Inc. filed a petition in federal court to force the baking- and crafts-supply company into bankruptcy. Creditors Deutsche Bank Trust Co. Americas and JGF Credit LLC filed the involuntary Chapter 11 petition Monday.

3 replies
cylstrial Posted 21 Jul 2009 , 6:53pm
post #2 of 4

WOW! That's crazy!

CeeTee Posted 21 Jul 2009 , 7:23pm
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They haven't filed Chapter 11 yet. Two of their creditors are panicking and trying to force it. It makes no sense why they are doing so. Wilton is still in the black despite the state of the economy.

There's a lot more going on than the news is giving us, but something about all this reeks. I can't shake the feeling that it has more to do with the creditors being in trouble rather than Wilton, and they see a chance to get easy money. It'll be interesting to see how this all plays out.
Link to full article here

CeeTee Posted 21 Jul 2009 , 7:24pm
post #4 of 4

freaking double posts...

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