Heater Maker DESA Files For Ch. 11 Again

Law360, New York (December 29, 2008, 12:00 AM EST) -- Heater and specialty tool maker DESA Heating LLC has filed for Chapter 11 protection for the second time since 2002, citing a cash squeeze and reduced demand for some of its products because of the foundering economy.

DESA parent company DHP Holdings II Corp. and five subsidiaries lodged voluntary notices of bankruptcy Monday in the U.S. Bankruptcy Court for the District of Delaware, listing net assets of $132.5 million and net liabilities of $133.2 million as of Nov. 29.

DESA also filed a number of first-day...
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