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Business Not So Sweet As Equal Maker Enters Ch. 11

Law360 (January 9, 2009, 12:00 AM EST) -- Merisant Co., maker of Equal and other calorie-free and low-calorie sweeteners, has filed for Chapter 11 bankruptcy protection as it approaches a maturity date for a revolving credit agreement and other debt.

On Friday, the privately owned company and five affiliated entities filed for bankruptcy in U.S. Bankruptcy Court for the District of Delaware, listing assets of $331.1 million and debts of $560.7 million.

The company’s largest unsecured creditor, by far, is Wells Fargo Bank, to which it owes more than $360 million, according to bankruptcy...
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