Powermate closes factory, files Chapter 11

03/19/2008 | Jamestown Sun (N.D.)

Powermate Corp. announced Tuesday it is filing for bankruptcy protection, closing its plant in Kearney, Neb., and cutting some 200 jobs. The power equipment manufacturer, based in Aurora, Ill., said it owes between $50 million and $100 million, mostly to suppliers. Powermate's largest unsecured creditor is Robin America Inc., which is owed more than $4 million.

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Jamestown Sun (N.D.)

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