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Zenith to file for bankruptcy and restructure in wake of sales slump
Zenith Electronics Corp plans a bankruptcy filing in Delaware to implement a turnaround. LG of South Korea retains stake while pursuing a restructuring focused on reducing debt and redefining manufacturing, with Citicorp credit line supporting the process. Potomac Edison calls redemption of all outstanding Series C preferred stock valued around 16 million dollars, payable at redemption.
MENTIONED IN THIS ARTICLE
Secienteeed
U.S
Zenith
Eckage
Com
South Korea
Har Intte Exchange
Citicorp North America Inc
Electronics
John Koo
LGE
Potomac Edison Co