Atlantis Plastics Files For Ch. 11

Law360, New York (August 12, 2008, 12:00 AM EDT) -- Crippled by homebuilding woes, Atlantis Plastics Inc. filed for Chapter 11 protection Sunday to facilitate the contracted sales of its plastic film and molded plastics businesses.

Atlantis, one of the North America’s largest producers of stretch films, blamed its bankruptcy on the slowdown in housing construction and large hikes in the cost of resin. It filed the petition in the U.S. Bankruptcy Court for the Northern District of Georgia on behalf of eight of its subsidiary businesses, including Linear Films Inc. and Rigal Plastics Inc....
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