Smurfit-Stone Weighs Bankruptcy Amid Drop In Sales

Law360, New York (January 15, 2009, 12:00 AM EST) -- Facing a cash crunch and weakening sales, cardboard box maker Smurfit-Stone Container Corp. has reportedly told its lenders that it could file for bankruptcy protection soon.

Citing unnamed sources, the Wall Street Journal reported Thursday that the company has hired the law firm Sidley Austin LLP and financial adviser Lazard Ltd. to help it secure about $750 million in debtor-in-possession financing.

Smurfit-Stone could file for Chapter 11 within two weeks, after it secures the financing, the Wall Street Journal reported.

The company, which is headquartered in...
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