A.B.Dick to file for bankruptcy protection
Jul 13, 2004 11:55 AM, AP staff
A.B.Dick’s (Niles, IL) stockholders have reportedly filed for bankruptcy protection. MHR Capital Partners LF and affiliates filed suit against A.B.Dick in June in Delaware’s Court of Chancery in an attempt to force the company to appoint an MHR Capital representative to its board of directors. MHR Capital is said to be the largest unsecured creditor of Paragon Corp. Holdings, Inc., A.B.Dick’s parent company, and holds approximately $18.4 million of $25 million in debt issued by Paragon. A.B.Dick declined to comment on the lawsuit but stated it will continue servicing customers without interruption and will explore options to strengthen its business.
See related online story, "Presstek poised to acquire A.B.Dick."
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