6309 Monarch Park Place, Suite 203
Niwot, CO 80503, USA
Phone (303) 443-5060
Toll free (888) 742-5060
Kennedy President Dave Thompson told MDM that his focus is on moving forward and repositioning through this process. He said vendors, customers, and employees have been supportive since the announcement. Kennedy sells through independent industrial distribution, and has remained an independent niche manufacturer since its start in 1910. Kennedy's annual revenues in 2003, including subsidiaries, were $28 million.
'During the past two years we worked hard to rebuild our order book post 9-11, while at the same time trying to refinance our obligations to our primary lender to avoid a bankruptcy filing,' Thompson said. 'We saw encouraging growth in orders during the Fall of 2003, but have been unable to resolve matters with our lender despite having reduced our obligations to it by almost $2 million over this same time period. We expect the bankruptcy process to provide us with a mechanism for dealing with the lender while permitting us to maintain the enterprise value of Kennedy for the benefit of its customers, trade vendors, employees and shareholders.'
Kennedy manufactures and sells industrial tool storage equipment worldwide. Kennedy also operates through subsidiaries MarkHon, Inc., Lord Healthcare Companies, Inc. and Blue Bell Bio-Medical, Inc. MarkHon manufactures and designs special-order metal tool cabinets for automotive vans, consoles and workstations for computer equipment and commercial flight centers. Blue Bell manufactures and markets multiple lines of medical carts, accessories and storage cabinets for use by medical professionals.