Industrial fire detection and suppression company Kidde-Fenwal Inc. (KFI) files for voluntary reorganization under Chapter 11 of US Bankruptcy Code in Delaware court and will seek to options, including a sale of the company as a going concern.
- KFI says it has a strong liquidity position, with over $100m in cash on hand, and is not seeking debtor-in-possession financing
- Company says it will operate its business in “ordinary course” during the Chapter 11 process
- Guggenheim Securities retained to advise on a potential sale of its business
- Cmpany has $1b-10b in estimated liabilities
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