Zenith Electronics, the last manufacturer to make television sets in the United States, filed a Chapter 11 bankruptcy plan in federal court in Wilmington and said it will become a completely owned unit of Korea-based LG Electronics.
The company’s prepackaged filing came as no surprise, because a Chapter 11 reorganization was expected as part of a long-planned restructuring of the embattled manufacturer of video cassette recorders and other consumer electronics. The filing is thought to be one of the last steps in the company’s plan to reduce debt and take the focus off of manufacturing.
This content has been archived. It is available through our partners, LexisNexis® and Bloomberg Law.
To view this content, please continue to their sites.
Not a Lexis Subscriber?
Subscribe Now
Not a Bloomberg Law Subscriber?
Subscribe Now
LexisNexis® and Bloomberg Law are third party online distributors of the broad collection of current and archived versions of ALM's legal news publications. LexisNexis® and Bloomberg Law customers are able to access and use ALM's content, including content from the National Law Journal, The American Lawyer, Legaltech News, The New York Law Journal, and Corporate Counsel, as well as other sources of legal information.
For questions call 1-877-256-2472 or contact us at [email protected]
