Tightened Credit Pushes Dayton Superior Into Ch. 11

Law360, New York (April 20, 2009, 12:00 AM EDT) -- Dayton Superior Corp., a major North American supplier of commercial construction materials, has said an inability to rework its debt or pull off a sale in the tightened credit markets forced the company to file for Chapter 11.

The Dayton, Ohio-based company filed its voluntary petition Sunday in the U.S. Bankruptcy Court for the District of Delaware, listing $286 million in assets and $413 million in liabilities.

Dayton Superior has arranged for a 12-month debtor-in-possession credit facility from GE Capital for up to $165 million to...
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