Home » Report: Rockford Products to File for Bankruptcy
Report: Rockford Products to File for Bankruptcy
July 25, 2007
The Rockford Register Star has reported that Rockford Products, Rockford, IL, a manufacturer of cold-formed components, fasteners and other related products, will file for Ch 11 bankruptcy protection to keep it running until a buyer is found.   ; A Ch. 11 bankruptcy allows the supplier to restructure its debt. In 1987 employees bought Rockford, which was then near-bankrupt, from Rexnord Inc., according to the paper. The company had $101 million in sales in 2006 and has been buried under debt" since the buyout.   ; Rockford's president told the Register Star that growing pension liabilities and the loss of key customers due to the slow automotive and housing markets sparked the decision to file bankruptcy.