Posted by Brian in AL on Wednesday, October 17, 2001 at 12:41PM :
In Reply to: Re: Which chapter did they file? 11 or 13?(nt) posted by Doug Higgins on Monday, October 15, 2001 at 10:05PM :
I believe they filed under Chapter 11, but I an not certain (Chapter 13 governs reorganization for individuals, Chapter 7 governs liquidation). One of the networks reported that the cause of the bankruptcy was a combination of competition from (cheap) imported steel, having too many pokers in the fire, and the cost of its retirement programs and that the company would be liquidating certain divisions in an attempt to save the company.
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