Chemical firm Vertellus Specialties files for Chapter 11 bankruptcy protection
Posted on Friday, June 10th, 2016 at 5:35 pm
Due to stiff marketing competition and “macroeconomic challenges,” Vertellus Specialties Inc., a novelty chemical company, recently filed for Chapter 11 Bankruptcy, an article of Indianapolis Business Journal reported on June 6.
The Indianapolis-based company, which has five facilities in other states, is well-known for their chemicals that are used in other industries and consumer products. In its bankruptcy documents filed recently, Vertellus has listed its liabilities between $500 million and $1 billion, while their assets range from $100 million to $500 million. Private equity company Wind Point Partners will likely sell Vertellus to a Delaware-based corporation, Valencia Bidco LLC, as part of the deal. Interested parties are given a deadline of August 15 to submit their bids.
At the Bradford Law Offices, PLLC in Fayetteville, our team represents business owners who have decided to file for Chapter 11 bankruptcy. We may be able to work on your behalf to help you receive the best deal possible in your filing. Call our office at (919) 758-8879 to learn more about your legal options.