Nampa, Idaho-based MPC files for bankruptcy
| November 7, 2008 |  View for printing |
MPC Corporation, and all of its direct and indirect subsidiaries, today announced that they filed voluntary petitions for relief and reorganization under Chapter 11 of the United States Bankruptcy Code. The filings were made in the United States Bankruptcy Court for the District of Delaware. The company's operations are expected to continue during the reorganization process.
MPC CEO John Yeros said, “Unforeseen issues surrounding our integration of the Gateway Professional business unit, combined with adapting the operations of our manufacturing partner to additional customized requirements have proven more challenging than originally anticipated, and have contributed to extensive losses. We evaluated all strategic alternatives, and concluded that the filing was necessary at this time.”
Full Story: http://www.mpccorp.com/about/media/p ... id=110708_1 
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