Posted on Tuesday, April 17th, 2012 at 3:31 pm
The packaged-ice distributing company, Reddy Ice, has filed for bankruptcy protection as a way to eliminate debt that racked up from dealing with lawsuits brought upon by the federal government.
Reddy Ice, along with Arctic Glacier and Home City, was accused of allegedly being involved in a conspiracy to put smaller packaged-ice companies out of business by keeping their prices at higher levels.
Reddy Ice is currently bidding to buy Arctic Glacier, who filed for bankruptcy earlier this year. Experts within this industry have suspected a merger from these two companies for quite some time. Stock prices for the two companies in the past two years have fallen $300 million. Reddy Ice has listed $530.8 million in debt and $434 million in assets.
If you or a loved one has been considering filing for bankruptcy, you need representation on your side during this time that may help you receive the compensation that you deserve. Contact the Joliet bankruptcy lawyers of the Law Offices of Stuart B. Handelman by calling 815-722-2201 today.