P.M. BRIEFING : Brewing Co. Files Chapter 11
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LA CROSSE, Wis. — G. Heileman Brewing Co., one of the nation’s largest beer-makers, today filed for financial reorganization under Chapter 11 of the U.S. Bankruptcy Code.
The La Crosse-based brewery will enter a court-supervised reorganization in an agreement with major creditors for debt restructuring, said Thomas J. Rattigan, who joined the company last week as chairman and chief executive officer.
Heileman has been troubled by debts as a result of its acquisition years ago by Bond Corp., the Australia-based conglomerate of businesses run by financier Alan Bond, who has severe financial problems.
The company has 2,000 employees staffing plants in its headquarters city, as well as Baltimore, San Antonio, Seattle and Portland, Ore. Heileman produces a range of beers, malt liquors and sparkling water.
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