Blonder Files Ch. 7 Bankruptcy
Home Textiles Today Staff -- Home Textiles Today, 1/2/2012 2:00:00 AM
CLEVELAND - Bath accessories supplier Blonder filed for Ch. 7 bankruptcy, the procedure used for liquidation.
In its Dec. 19 filing in the Ohio Northern District Bankruptcy Cout, Blonder claimed assets of $3.17 million and liabilities of $4.75 million.
Year-to-date income in 2011 amounted to just under $2.9 million, according to the bankruptcy petition.
Blonder's list of unsecured creditors included 48 employees owed wages and benefits. Only a few home textiles companies were cited among the unsecured creditors and for small amounts. Brazilian towel manufacturer Buettner is owed about $6,500 and Bochang Towels of Taiwan just over $600.
Blonder, which produced a number of licensed lines, also listed Bentley Licensing Group among its unsecured creditors with an outstanding payment due of about $11,000.
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