Wind Point Partners chemical company seeks bankruptcy protection

Posted on Friday, June 10th, 2016 at 5:49 pm    

Wind Point Partners owned company Vertellus Specialties Inc. is undergoing Chapter 11 Bankruptcy proceedings and is expected to be sold to lenders, a report of Indianapolis Business Journal stated on June 6.

The Indianapolis-based company with several facilities in other states, including North Carolina, decided to file for bankruptcy due to changing “macroeconomic forces” and their struggle to compete with the market in China. Though court records showed that Vertellus’ revenue was improving every year prior to its filing, the company claims they have liabilities between $500 million and $1 billion, and assets between $100 million and $500 million. 

Filing for bankruptcy is an option worth considering, especially if your business is dealing with economic hardships. If you are considering bankruptcy protection, the team at the Bradford Law Offices, PLLC in Raleigh may be able to help your legal proceedings run smoothly and efficiently. Call our office at (919) 758-8879 to find out how we could work for you.