Formica Corp. Files Chapter 11

by WOHe

Formica Corp. Files Chapter 11

Cincinnati Formica Corp., the company whose name was once
synonymous with the decorative plastic laminate that covered most
of America’s kitchen countertops, has filed for Chapter 11
bankruptcy protection.

The company submitted the bankruptcy filing last month, noting
that its operations would continue.

“Formica has a brand name that is an American icon, and it has
the designs, products and employees to propel its growth,” new
Formica CEO Frank Riddick said.

Riddick noted that the niche for Formica’s products had been
“eaten away over the last 20 years” by consumer tastes leading to
increased demand for other countertop surfacing products, including
solid surfacing, engineered stone, granite and other natural stone
products.

Prior to filing for bankruptcy protection, the company had
undergone a number of well-publicized mergers, buyouts and
corporate reorganizations, and had posted.

Related Posts

Leave a Comment

This website uses cookies to improve your experience. We'll assume you're ok with this, but you can opt-out if you wish. Accept Read More