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Recoton Corp

Recoton Corp. Files for Chapter 11; Plans Total Liquidation

Authored by Mark Hefflinger on April 10, 2003 - 2:27am.
Lake Mary, Fla. -- Recoton Corp., a developer of consumer electronic accessories, audio products and video gaming products, has filed for Chapter 11 bankruptcy. The company plans to sell all its remaining assets and businesses. Recoton said that it has arranged for financing from Heller Financial Inc. and General Electric Capital Corp., the company's two senior lenders, to continue operations as it searches for buyers. Recoton said that it expects to sell all of its assets by the end of June.
tags: Chapter 11 | Liquidation | Recoton Corp |