Article: Chesapeake to sell business.

Byline: Dan Hockensmith

Specialty packaging manufacturer Chesapeake Corp. will sell its operating businesses to a group of investors for about $485 million, after filing for reorganization.

Richmond, Va.-based Chesapeake filed for Chapter 11 protection from creditors Dec. 29 in U.S. Bankruptcy Court in Richmond. Non-U.S. units are not included in the filing.

"After exploring a range of possible alternatives to improve our balance sheet and maintain the liquidity we need to operate our businesses in an extremely difficult economic environment, the management and board of directors of Chesapeake concluded that a court-supervised sale of our ...

Related newspaper, magazine, and journal articles:

 
 
Newsweek Harper's Magazine The Washington Post Chicago Tribune Crain's Chicago Business PRNewswire Pediatric News The Nation Advertising Age The Economist (US) A FREE trial gives you access to over 80 million articles! Access over 6,500 publications with a FREE trial!