filing for chapter 11. that certainly was want the plan when they bought the company from industry giant oneida five years earlier. we manufactured foroni oneid and other flatware marketers. when the recession hit in 2008, orders for forks, knives, and spoons simply dried up. they stopped buying from us, or in some cases they would buy things they didn t have a lot of. it was dribs and drabs, not leerily what we needed. with bearically any cash coming in, the pair took a drastic action. they closed the factory, let 100 employees go, and shifted production for the remaining clients to mexico. we were left with a severely reduced revenue stream, and really a revenue stream that couldn t support the amount of debt we had. we were slow-paying people and behind on our bills. we received a letter in the mail from one of our creditors basically suing us.
when they bought the company, carol manufacturing, from industry giant oneida five years earlier. we manufactured for oneida and other flatware marketers. when the recession hit in 2008, orders for forks, knives, and spoons simply dried up. they stopped buying from us or in some cases they would buy things they didn t have a whole lot of. it was dribs and drabs of orders. it was a disaster, and with barely any cash coming in, the pair took drastic action. they closed the factory, let 100 employees go and shifted production for their remaining clients to mexico. we were left with a severely reduced revenue stream and really a revenue stleem couldn t support the amount of debt that we had. we were slow paying people and we were behind on our bills. we received a letter in the mail from one of our creditors