Hot off the Press


 

SHARE:  

Trend Technologies Goes Ch. 11
to Facilitate Sale to its Former CEO

Trend Technologies Goes Ch. 11
to Facilitate Sale to its Former CEO

Thursday, December 19, 2002
 
Trend Technologies, Inc., Chino, CA, its parent company Trend Holdings, Inc. and its domestic subsidiaries have filed petitions for Chapter 11 bankruptcy to facilitate a $70-million sale of the company. In November, the company entered into a sales agreement with a group led by Earl Payton, former CEO of Trend Technologies. “Trend Technologies is not going out of business,” said Payton in a letter to company vendors. “Chapter 11 gives us time to complete the sale in an orderly fashion while we continue to operate our business. The company’s cash position augmented by revenues from its operations will generate adequate funding for post-petition trade and employee obligations.” For more information, visit www.trendtechnologies.com.

 

Visit Our Sponsors