Mall Security Firm IPC Plans Strategic Sale In Ch. 11

Law360, Wilmington (August 09, 2013, 10:27 PM ET) -- IPC International Corp., a leading provider of shopping center security services, sought protection in Delaware bankruptcy court Friday as the company plans a stalking-horse sale to industry rival Universal Protection Services LLC.

Illinois-based IPC, along with parent Security Networks Holdings Corp., filed for Chapter 11 in the face of a tightening American economy, an unsuccessful U.K. operation that drained liquidity, and insurance liability issues, according to a declaration by Chief Financial Officer Scott M. Strong.

IPC furnishes comprehensive security services and programs to venues across the...
To view the full article, take a free trial now.
Try Law360 for free for seven days
Already a subscriber? Click here to login

Already have access?

  1. Forgot your password?
  2. Sign In

Get instant access to the one-stop news source for business lawyers

Required