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...
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