Rockford Products Corp. aims to sell remaining assets
WASHINGTON (Dow Jones/AP) -- A Rockford manufacturer wants to sell its remaining assets before its bankruptcy financing runs out.
Rockford Products Corporation is an automotive and commercial fastener manufacturer. The company says in papers filed yesterday with the U.S. Bankruptcy Court in Rockford that it has "run out of time and money." The company says it is facing threats from its customers to take their business elsewhere if the sale isn't completed quickly.
The company said it has a prospective buyer lined up and hopes to finalize the purchase agreement by tomorrow. Rockford officials declined to identify the interested bidder.