Weighed Down By Debts, Charys Files For Chapter 11

Law360, New York (February 15, 2008, 12:00 AM EST) -- Infrastructure provider Charys Holding Co. Inc. has filed for bankruptcy protection, saying it has already entered into a restructuring deal with bondholders that are saddled with more than $120 million in debt.

The Atlanta-based firm submitted its voluntary petition for Chapter 11 on Thursday in the U.S. Bankruptcy Court for the District of Delaware after incurring a series of debts through various acquisitions.

Its nonoperating subsidiary, Crochet & Borel Services Inc., also filed for Chapter 11.

A statement by Charys said its bankruptcy filing would help...
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