Oreck files for bankruptcy
NASHVILLE — Oreck Corporation, the Nashville-based manufacturer of upright vacuums and other cleaning products, has filed for Chapter 11 bankruptcy protection, and is looking for a buyer, according to The Tennessean.
Filing for bankruptcy will allow the company to consolidate its assets and restructure its finances in an effort to sell the company, the article stated.
According to the article, despite the filing, the company is expected to continue daily operations without interruption.
"Oreck will continue to operate in the ordinary course of business, while the sale process takes place, with authorized and exclusive dealers and other trade customers continuing to receive product for sale to ultimate consumers," the company said.
The company anticipates that, after the sale, plant operations and corporate headquarters will stay in Tennessee, the article noted.
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