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Regina Co. plans Ch. 11. (will file bankruptcy petition)
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ATLANTA--The Regina Co., which has one of the major brands in vacuum cleaners, says it plans to file a Chapter 11 bankruptcy petition this week while it continues to seek potential buyers.
According to a statement issued last week, the company also has ceased most of its operations.
The moves come after months of cash flow problems that caused Regina to stop shipments to most accounts. Regina's current owner, Pass-Port Ltd. of Israel, has been seeking investors to help resuscitate the company.
Pass-Port Group decided to put the company up for sale when if ...
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