SUNBEAM CHAPTER 11: LIFE AFTER DEBT?
HFN: The Weekly Newspaper for the Home Furnishing Network, February, 2001 by Quail, Jennifer
BOCA RATON, Fla.-Sunbeam Corp.'s Chapter 11 filing is being seen as a way for the chronically troubled company to dump its debt and return to a profitable operating basis within six to nine months.
The company filed voluntary petitions last week for itself and its domestic operating subsidiaries under Chapter 11 with the U.S. Bankruptcy Court in the Southern District of New York. Through filing and reorganization, Sunbeam intends to eliminate about $2 billion of debt.
"Looking at the immediate situation, it's fair to say they'll emerge a stronger version of their current self," said William Steele, household products analyst for Banc of America Securities. "Primarily because, operationally, nothing will change. All that will really change is the...
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