Fabrikant Goes Chapter 11

M. Fabrikant & Sons Inc. and its domestic subsidiary, Fabrikant-Leer International, filed voluntary petitions for relief under Chapter 11 of the U.S. Bankruptcy Code. The company’s foreign and domestic affiliates aren’t included. In a statement, the family-owned and -operated company said Chapter 11 proceedings “currently provide the best opportunity to maximize the value of its assets and its business for all stakeholders.” It also said the company will “actively pursue a full range of strategic alternatives, including the sale or refinancing of the firm.” Fabrikant will continue operating its business while in Chapter 11, and its facilities are expected to remain open on normal schedules. It said it plans to “continue to pay employee wages and benefits, honor customer fulfillment obligations and programs, and make uninterrupted payments to suppliers for goods and
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