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The Elyria-based manufacturer's restructuring plan, approved by the courts at the end of April, took effect Friday, May 5. The company is looking to move forward with $240 million trimmed from its debt, a revamped board of directors, and capital to invest in becoming a more effective and competitive business. ....
The company, which has long struggled with profitability, is looking to emerge from bankruptcy later this spring with a refreshed approach to growth. But its path to viability is certainly not guaranteed. ....
The struggling medical equipment manufacturer and two of its U.S. subsidiaries filed for Chapter 11 bankruptcy on Tuesday, Jan. 31. However, the company said its global manufacturing and delivery of products should continue uninterrupted. ....