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Amoskeag mill declares insolvency and seeks reorganization
The Amoskeag Manufacturing Company of Manchester New Hampshire declared itself insolvent and filed for permission to reorganize under the Federal Bankruptcy Act. The plant once employed about 12 000 people and faced a $11 379 100 debt carrying six percent annual service of roughly $800 000. The move follows a New Hampshire committee finding the debt service too high and recommendations for bondholder concessions and tax relief to reopen the mill.
MENTIONED IN THIS ARTICLE
Boston
Amoskeag Manufacturing Company
Manchester
N. IL
Merrimack River
Amoskeag
New Hampshire
Toeorganize
Mancheter