‘Sliced and Diced’ — Ronco Bankruptcy a Bust

Two recent court filings suggest that the bankruptcy case of Ronco Holdings Inc—the iconic kitchen gadget company and ‘informercial’ pioneer—will end with its secured creditor taking all the company’s assets.

Those assets include inventory, trademarks and patents for a long list of products, including Veg-O-Matic, Mr. Microphone, the Pocket Fisherman, and Hair in a Can Spray.

On Sept. 28, ZGS Pension Fund, as assignee for P2Binvestor, Inc., filed a motion in bankruptcy court in Texas seeking permission to foreclose on its collateral for a loan balance of more than $1.2 million.

It’s a near certainty that the trustee appointed to ...