Bankruptcy For Archbrook Laguna
Distributor Archbrook Laguna filed for Chapter 11 bankruptcy Sunday, with the intention of selling at auction next month, Bloomberg News reported.
Archbrook Laguna, according to the report, reported assets of $246.2 million against debt totaling $176.4 million. Secured lenders, including GE Capital, PNC Bank and Bank of America, called a default.
Top unsecured creditors include Dell, Garmin and Direct Entertainment Media Group.