Set It and Forget It? Ronco to Convert to Ch. 7 Liquidation

Ronco, the purveyor of kitchen gadgets made famous by its founder Ron Popeil and his pioneering infomercials over several decades, is converting its bankruptcy reorganization case to a straight liquidation in Chapter 7.

The company filed its third bankruptcy—the second under current ownership—April 24.

Ronco was hopeful it could reorganize in Chapter 11, its attorney Kell Mercer told Bloomberg Law last month. But pulling off a reorganization depended on getting a post-bankruptcy loan called debtor-in-possession financing, the Austin, Texas-based lawyer said.

The company threw in the towel June 13. “Utlimately, the DIP financing has not materialized,” it said in its ...