Mall Security Firm IPC Plans Strategic Sale In Ch. 11

Law360, Wilmington (August 9, 2013, 10:27 PM EDT) -- IPC International Corp., a leading provider of shopping center security services, sought protection in Delaware bankruptcy court Friday as the company plans a stalking-horse sale to industry rival Universal Protection Services LLC.

Illinois-based IPC, along with parent Security Networks Holdings Corp., filed for Chapter 11 in the face of a tightening American economy, an unsuccessful U.K. operation that drained liquidity, and insurance liability issues, according to a declaration by Chief Financial Officer Scott M. Strong.

IPC furnishes comprehensive security services and programs to venues across the...
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