Housing Slump Prompts Champion Ch. 11 Petition

Law360, New York (November 16, 2009, 4:39 PM EST) -- Champion Enterprises Inc., a maker of factory-built homes, and its U.S. operating units have filed for Chapter 11 protection, in an attempt to improve the company's capital structure through a sale of its operations.

The Troy, Mich.-based company filed its petition Sunday in the U.S. Bankruptcy Court for the District of Delaware, where it listed $576.5 million in assets and $521.3 million in liabilities. Its U.K. and Canadian operations are not included in the filing.

Champion, among the largest producers of modular housing in the U.S....
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