Coleco Industries Inc., which last week filed...

Coleco Industries Inc., which last week filed for protection under Chapter 11 of the federal bankruptcy law, said in court papers that it has a negative net worth of $156 million. The West Hartford, Conn., toy manufacturer listed assets of $384.3 million and liabilities of $540.3 million in its petition filed late Monday in U.S. Bankruptcy Court for the Southern District of New York. The company, whose fortunes rose and fell with the popularity of Cabbage Patch Kids dolls, said it owes $104.3 million to secured creditors, including $94.4 million to 11 foreign and U.S. banks that loaned it money to finance daily operations. It also owes $335 million to investors who bought Coleco bonds during four separate issues over the past several years. The company is in default on interest payments on those bonds. Coleco owes another $135.2 million to more than 1,200 other creditors.