Generation Brands Files Prepack To Cut $150M In Debt

Law360, New York (December 7, 2009, 3:11 PM EST) -- Generation Brands Holdings Inc. has taken refuge in bankruptcy court, citing a severe downturn in residential remodeling and pushing a prepackaged restructuring plan the lighting fixture and ceiling fan maker says will cut $150 million in debt and leave it poised to capitalize when the economy improves.

Generation Brands filed for Chapter 11 protection Friday in the U.S. Bankruptcy Court for the District of Delaware, listing assets and liabilities in the $500 million to $1 billion range.

Generation Brands said it already has gotten the required...
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