Medical Supplier Hits Ch. 11 Planning $22M Sale

By Jamie Santo (August 19, 2013, 3:29 PM EDT) -- Medical equipment supplier Landauer-Metropolitan Inc. and seven affiliates entered Chapter 11 protection in Delaware bankruptcy court Friday as the companies look to complete a $22 million going-concern sale to stalking horse bidder Quadrant Management Inc. within two months.

Landauer Metro, which listed assets and liabilities between $50 million and $100 million on its bankruptcy petition, is a leading provider of home medical equipment and related products and services in the Northeast, according to a first-day declaration by founder and Executive Chairman Alan J. Landauer.

Headquartered in Mount Vernon, N.Y., Landauer Metro had been hit hard this year by its failure to...

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