106-Year-Old Kansas Company Heads For Chapter 11
GREAT BEND, Kan. (AP) — Fuller Brush Co. says it will be mostly business as usual at its headquarters in central Kansas following its filing for Chapter 11 bankruptcy protection.
Fuller Brush cited assets and debts of $10 million to $50 million as the 106-year-old company and its parent firm, CPAC Inc., both filed for Chapter 11 last week.
The Great Bend Tribune reports (http://bit.ly/wcVkyM ) Fuller Brush has 180 employees at its plant in Great Bend. Chief restructuring officer Larry Perkins says the filing will help the company buy raw materials, cover salaries and pay the lease on its 124-acre site.
Perkins foresees no changes in employment for now. He says what will change are some of the company's offerings as it cuts unprofitable items and finds new ways to sell its products.