American Laser Heads To Ch. 11 To Ease Sale

Law360, New York (December 8, 2011, 8:03 PM EST) -- Laser hair removal company American Laser Centers LLC, grappling with a failed growth strategy and liquidity problems, filed for Chapter 11 protection Thursday in Delaware to help facilitate a sale of its business.

In its petition, the Michigan-based company listed assets of between $50 million and $100 million and liabilities of between $100 million and $500 million. American Laser operates 156 clinics across the U.S. and Puerto Rico, according to a declaration from Andrew Orr, chief financial officer and vice president of corporate operations for parent...
To view the full article, register now.

UK Financial Services

UK Financial Services

Read Our Latest UK Financial Services Coverage

Financial Services Law360 UK provides breaking news and analysis on the financial sector. Coverage includes UK and European Union policy, enforcement, and litigation involving banks, asset management firms, and other financial services organizations.