University Directories sought bankruptcy protection

Posted on Friday, November 7th, 2014 at 6:25 pm    

Chapel Hill-based company University Directories recently filed for Chapter 11 bankruptcy after an alleged takeover attempt, Triangle Business Journal reported on October 24.

University Directories owner Jim Heavner, 75, stated that he sought bankruptcy protection to prevent Eli Global owner Greg Lindberg from taking full control of his company. Lindberg’s subsidiary UDX claimed they were seeking to take over University Directories because its management is incapable of running the business, and they have a huge amount of unsettled debt. Heavner said that they never missed paying their loan and further stated that he will look for another party to buy the company.

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