Business Services Industry
Warren, N.J.-Based Formica Files for Chapter 11 Bankruptcy Protection.
Knight Ridder/Tribune Business News, March, 2002
By Chris Reidy, The Boston Globe Knight Ridder/Tribune Business News
Mar. 6--Formica, which evolved into a home-decor product in 1931, the same year the Empire State Building formally opened and Al Capone went to jail, yesterday joined a list of consumer icons that has seen better days.
In a distant era when young Americans wore Levi's and snacked on Cracker Jacks, Formica became the last word in laminated countertops. In time, it was virtually ubiquitous in American homes. It was as essential to the authenticity of an all-night diner as a recipe for three-alarm chili or a sassy waitress.
But the old days are gone forever. Yesterday, privately held Formica Corp. filed for Chapter 11 bankruptcy protection. According to the Warren, N.J.,...
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