Frozen Food Co. Contessa Seeks Ch. 11 Amid Cold Sales

Law360, New York (January 27, 2011, 1:56 PM EST) -- Falling sales and mounting debt have forced frozen food maker Contessa Premium Foods Inc. to file for Chapter 11 bankruptcy protection.

The San Pedro, Calif.-based company listed between $50 million and $100 million in both assets and liabilities in its petition, filed Wednesday in the U.S. Bankruptcy Court for the Central District of California.

The company will maintain operations while it restructures its debt, Contessa said.

According to a statement released Thursday, Contessa reached an agreement with Wells Fargo & Co. “to fund operations through the...
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