Teddy Bear News
Boyds files for Chap. 11 Bankruptcy
Author: teddygirl | Tuesday October 18, 2005
On October 16th, Boyds filed for Chapter 11, which is reorganization in the US bankruptcy laws. This does not mean they will stop making bears. Reorganization is not the same thing as liquidation, which is Chapter 7. The company will keep operating and try to be profitable again. Companies may or may not come out of Chapter 11. Jan Murley is the CEO.
Boyds said the spring 2006 line is on its way, and they are working on the fall 2006 line. The company hopes to come out of bankruptcy and is confident it will do so.
*Above picture is from Boyds’ website.