Dalton Foundry, Parent Company Going Through Chapter 11
Posted
Daniel Riordan-driordan@timesuniononline.com
On Feb. 3, Neenah Enterprises stated in a press release that it and its subsidiaries filed for voluntary Chapter 11 reorganization in U.S. Bankruptcy Court.
It appears Dalton Foundry, one of the subsidiaries of Neenah Enterprises, is involved in Chapter 11 filings.The Times-Union has confirmed that creditors of Dalton Foundry have received letters of notification that the Warsaw company is involved in Chapter 11 proceedings along with its parent company.
In its press release, Neenah Enterprises states that there will be no interruption to day-to-day business operations and that it will continue with "business as usual."
Neenah is based out of Neenah, Wisc.
According to Chapter 11 bankruptcy documents filed Feb. 3 in U.S. Bankruptcy Court in Wilmingotn, Del., Neenah Enterprises had $162.5 million more in debt than in assets as of September.
The Appleton Post Crescent newspaper in Wisconsin quotes company representatives in saying no layoffs would take place at the Neenah location.
It's uncertain whether there will be layoffs at Dalton Foundry.
A representative from Dalton Foundry said that they will not comment on personnel issues and directed the Times-Union to the press release issued by Neenah Enterprises.
According to Dalton Foundry's Web site, the company, which moved to Warsaw in 1910, was sold to Neenah Enterprises in 1998.
