EUGENE, OR — As of Oct. 29, the operations of States Industries Inc. have been acquired by States Industries LLC, ending the company’s Chapter 11 bankruptcy proceedings. Renwood States Lending LLC provided financing throughout the Chapter 11 process and is the senior lender to the new States Industries LLC.
States continued to operate during the Chapter 11 proceedings and anticipates an uninterrupted transition to new ownership. States manufactures hardwood panel products from domestic and imported face veneers and softwood innerplies for use in kitchen cabinets, furniture, store fixtures, architectural interiors and other applications. The company operates from 252,000 square feet of manufacturing space in Eugene OR, and employs 255 people.
“This is certainly a great outcome for our customers, our vendors, and especially our employees. With the support of new ownership, we are prepared to reinforce our leadership position in the market with high quality innovative products and services.” said Mike Taylor, States Industries’ president and COO.
Read States Industries' press release.
Have something to say? Share your thoughts with us in the comments below.