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 Post subject: Lamson files for chapter 11.
PostPosted: Wed Aug 20, 2014 1:56 pm 
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Location: Madison Wisconsin
Hi guys,

Check out some news on our blog: http://chefknivestogoblog.com/102



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 Post subject: Re: Lamson files for chapter 11.
PostPosted: Wed Aug 20, 2014 2:05 pm 

Joined: Fri Mar 07, 2014 9:57 pm
Posts: 106
Location: Central Illinois
What's backruptsy? Sounds painful. :>)

If they are going Chapter 11 they must have some plans to reorganize, or sell off the assets. Too bad to see another old, American company in trouble.


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 Post subject: Re: Lamson files for chapter 11.
PostPosted: Wed Aug 20, 2014 2:16 pm 

Joined: Thu May 29, 2014 8:38 pm
Posts: 909
Read the quick brief. Sounds relatively minor. My guess is there was either a bullet or beginning of an amortization schedule due on the outstanding SBA loan that the company could not meet or refinance. Filing ahead of a technical default on covenants or payment terms can help prevent debtors from taking the keys so to speak.


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 Post subject: Re: Lamson files for chapter 11.
PostPosted: Wed Aug 20, 2014 2:47 pm 

Joined: Fri Mar 07, 2014 9:57 pm
Posts: 106
Location: Central Illinois
ChipB; Thank you for the analysis. The part that struck me is that they are selling the facility, which makes it sound more serious to me unless they are moving to something more modern perhaps.


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 Post subject: Re: Lamson files for chapter 11.
PostPosted: Wed Aug 20, 2014 2:52 pm 

Joined: Thu May 29, 2014 8:38 pm
Posts: 909
My guess would be that they either have a lease in place on a new facility or else are pursuing a sale-leaseback on the current facility. Sounds like they also need a more flexible credit facility, but filing isn't going to help. Possible they get one from whoever provides the DIP (debtor in possession) financing.


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 Post subject: Re: Lamson files for chapter 11.
PostPosted: Wed Aug 20, 2014 3:56 pm 
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 Post subject: Re: Lamson files for chapter 11.
PostPosted: Wed Aug 20, 2014 5:48 pm 
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Joined: Thu Jul 10, 2014 12:50 am
Posts: 71
Sounds like a good thing you were already looking into move your Richmond line's production over to Japan. If they're selling the factory, I wonder if they'll be going the way of Camillus: selling the name to an equity firm with production outsourced to China.



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 Post subject: Re: Lamson files for chapter 11.
PostPosted: Thu Aug 21, 2014 4:32 am 

Joined: Sat Sep 28, 2013 6:46 am
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Location: Lake of the Ozarks, MO
had an old camillus knife as a kid. late 80's. loved that thing although I never got to sharpen it


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 Post subject: Re: Lamson files for chapter 11.
PostPosted: Thu Aug 21, 2014 5:55 am 
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Joined: Tue Oct 23, 2012 1:14 am
Posts: 560
Location: San Ramon Ca.
Wow! Thats not good news. I hope someone can step in and take over.



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 Post subject: Re: Lamson files for chapter 11.
PostPosted: Thu Aug 21, 2014 6:03 am 

Joined: Thu Jun 14, 2012 2:05 am
Posts: 46
I guess it's a good thing you're working on moving artifex production to japan


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