Food Industry
Industry: Email Alert RSS FeedVlasic in a pickle - Vlasic Foods files Chapter 11 bankruptcy - Brief Article
Eurofood, Feb 13, 2001
Struggling US food firm Vlasic has filed for bankruptcy protection, and has published Vlasic Foods Bankruptcy News, tracking the reorganisation of Vlasic Foods under chapter 11. Peter A. Chapman, president of the US Bankruptcy Creditors' Service said, "Vlasic finds itself in a proverbial pickle, not unlike many other mega-debtors today.
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The balance sheet is upside down, earnings are dismal, sales are declining and there's no clear recipe for success. The only question is what happens with Swanson: will a buyer emerge or will the company attempt a standalone reorganisation around that brand?"
COPYRIGHT 2001 Agra Europe Ltd.
COPYRIGHT 2001 Gale Group
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