Business Services Industry
Indianapolis-Based Eagle Industries Files for Chapter 11 Protection.(Originated from The Indianapolis Star and News)
Knight Ridder/Tribune Business News, January, 1997 by Key, Peter
Jan. 8--Eagle Industries Inc., an Indianapolis-based manufacturer of trusses and wall panels for residential construction, has filed for protection from creditors under Chapter 11 of the U.S. Bankruptcy Code.
Eagle said in a news release that the filing was brought on by cash-flow problems stemming from a disputed payment with a large customer and a substantial loss on a fixed-price contract negotiated in 1995. It said it expects to operate on a business-as-usual basis with the support of its lender while it reorganizes under Chapter 11 protection.
Eagle has $6.74 million in assets and $7.65 million in liabilities, according to its bankruptcy petition. It employs more than 100 people.
Eagle was founded by Ken Hansen and Ward Horn...
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