Uniroyal Holding Files Chapter 11 With $50 Million-$100 Million in Liabilities

1 articles · Updated · bondoro.com · Aug 1

Uniroyal Holding and affiliate Great Hill Corp. filed for Chapter 11 on July 31 in the U.S. Bankruptcy Court for the District of New Jersey, case No. 26-18668.
The Naugatuck, Connecticut-based tire and rubber products maker listed $10 million to $50 million in assets against $50 million to $100 million in liabilities, showing a balance-sheet shortfall.
The petition said funds will be available for distribution to unsecured creditors, signaling at least some recovery despite the restructuring.
Clayton & Dubilier Private Equity Fund Ltd. Partnership is the largest listed equity holder with a 32.50% stake; other holders include Champlain Associates, Monitor Equity and the Joseph P. Flannery Revocable Trust.