Thomas bankruptcy

25 April 2008

Canadian skid steer and mini excavator manufacturer Thomas Equipment Inc is preparing its manufacturing subsidiary for bankruptcy proceedings. The company has laid off 141 employees and engaged a consultant to investigate potential investors, buyers or merger candidates. Thomas said on 17 August that its wholly owned subsidiary, Thomas Equipment would start court-supervised restructurings and file for bankruptcy. The subsidiary's parent company and other sister firms are not part of the bankruptcy filing.

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