Sagging Profits Force Breast Implant Co. Into Ch. 11

Law360, New York (July 3, 2007, 12:00 AM EDT) -- One of the world's largest breast implant companies has filed for bankruptcy after at least three straight years of massive losses.

Las Vegas-based MediCor Ltd. filed its Chapter 11 petition on Friday with the U.S. Bankruptcy Court for the District of Delaware, listing assets of $120,354,097 and debts of $121,439,609.

Though it controls about 17% of the world's breast implant market, excluding the United States, the company said it would sell all of its assets. In the meantime, it secured a $1.5 million debtor-in-possession loan from...
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