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Glove-Maker Ironclad Files For Ch. 11 With $20M Sale Bid

Law360, New York (September 11, 2017, 2:06 PM EDT) -- Work glove manufacturer Ironclad Performance Wear Corp. on Friday filed for Chapter 11 bankruptcy in California, with plans to keep operating as normal thanks to a $2 million debtor-in-possession loan from Radians Wareham Holding Inc., ahead of a planned 363 sale to Radians for $20 million.

Radians, which manufactures work safety apparel such as hard hats and earmuffs, extended its DIP financing offer and placed its stalking horse bid for California-based Ironclad as the debtor filed for bankruptcy on Friday.

A Nevada-based subsidiary that filed alongside...
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