Merger Woes Send Safe Maker Alpha Guardian Into Ch. 11

Law360 (February 26, 2020, 5:01 PM EST) -- Safe maker Alpha Guardian has filed for Chapter 11 in Nevada bankruptcy court, saying the 2017 merger that formed the company has left it running in the red with with $120 million in debt as it fails to keep up with customer demands.

In a declaration filed Tuesday, Chief Restructuring Officer Nicholas Rubin said the merger left the new company overleveraged and with factories that have been unable to fulfill the majority of orders, sending the company into default and ultimately into Chapter 11 with a proposal to preserve the company with a debt-for-equity swap with one of the organizers of...

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