11 November 2005 – Roswell (GA): O’Sullivan Industries has announced it has received final approval for the Chapter 11 bankruptcy filing it made four weeks ago.
The final order granted allows O’Sullivan to borrow up to $35 million under certain conditions and subject to borrowing availability, and includes an authorisation allowing the firm to honour pre-petition customer credit, return and warranty programmes.
Rick Walters, interim CEO of O’Sullivan, said: "Our ability to service our customers will remain unaffected by the filing. We are pleased that our restructuring is proceeding in an orderly fashion and we look forward to exiting Chapter 11 as quickly as possible."
