Ascendia Brands Seeks Buyer As It Files For Ch. 11

Law360, New York (August 5, 2008, 12:00 AM EDT) -- Ascendia Brands Inc., a health and beauty products manufacturer, filed for Chapter 11 bankruptcy protection Tuesday and announced that it plans to operate its business as normal while negotiating the company’s sale.

Ascendia filed the voluntary petition for Chapter 11 in the U.S. Bankruptcy Court for the District of Delaware, citing $194 million in assets and $279 million in total debts.

The Hamilton, NJ-based beauty care company determined that a sale of the business is the most viable way forward rather than a stand-alone reorganization, even...
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