HomeMy WebLinkAboutHatheway & Patterson - 5/12/1993HATHEWAY &- PATTERSON CO., INC. _
15 County Street P.O. Box 177
Mansfield, MA -02048
May 12, 1993
TO: ALL INTERESTED PARTIES
SUBJECT,,: NOTICE OF CLOSURE OF MANUFACTURING PLANT
Gentlemen:
This letter is a notice to all interested parties of the termination
of business operations of Hathaway & Patterson Co., Inc. This
termination will occur on or about May 21, 1993.
On February 4, 1993, Hathaway & Patterson Co., Inc. filed a
bankruptcy petition under Chapter 11 of the United State Bankruptcy
Code in the Federal Court in Boston, Massachusetta. This action was
forced by an impending foreclosure by the Bank of Boston. It was
felt at that time that the Corporation could revitalize and
refinance its operations and re -organize the business. Subsequest
analysis of economic and other conditions have indicated that this
re -organization is impossible.
As part of the termination process, the Corporation is liquidating
its assets under the supervision of the United States Trustee for
benefit of creditors. Inventories are being sold off, including the
inventory of registered pesticides. These registered pesticides
are being sold -back to the producers as holders of the registrations
and pesticide distributor licenses and will be shipped in proper
Department of Tranaporation equipment as the responsibilty of the
purchsaore. An auction has been set for June 9, 1993 to sell off
equipment and other assets. That which remains unsold at auction
will be removed from the site for future selvage sale or abandoned
at the site.
There will be a motion filed with the Bankruptcy Court to set a Bar
Date for any and all claims against the estate of the Corporation.
Under the Bankruptcy Code any creditor who fails to file a claim on
or before the Bar Date will permanenty lose its right to file any
claim against the Corporation.
By early June the Corporaltion will have no employees. The
Corporation will continue to meet all its responsibilities in law
and regulation until such time as it is financially or physically
impossible to do so.
Please feel free to contact us if you need any additional
information
Yours very truly,
HATHEWAY & PATTERSON CO., INC.
HATHEWAY PATTERSON CO., INC.
FORMER EMPLOYEES WILL NOT HAVE ACCESS TO THE SITE OR AUTHORITY
PENDING APPOINTMENT OF A TRUSTEE, THOMAS A. MILLER, 14 BEACON
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