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P&G Packaging Files for Chapter 11

March 18, 2009 By: Packaging online staff Box Biz


P&G Packaging Inc., Scotia, N.Y., has filed for Chapter 11 bankruptcy protection. The packaging supplies broker was weighed down by $1.7 million in debt and six breach-of-contract lawsuits, The Business Review reports.
The company lists no assets in its bankruptcy filing. P&G was a distributor of packaging supplies and corrugated cartons. The firm often acted as a middleman between wholesalers and small- to mid-sized businesses.
P&G owes $255,000 in rent and trade debt to Touhey Associates, a commercial property manager in Albany, N.Y., where it operated part of a 120,000 sq ft plant. Court records also show that six of P&G’s suppliers initiated breach-of-contract lawsuits against it last year.
 
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