WAOW - Newsline 9, Wausau News, Weather, SportsWick Building Systems files for Chapter 11, plans to reorganize
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by Kelsi Schindler
MAZOMANIE (WAOW) -- Wick Building Systems, Inc. files a voluntary petition for reorganization under the Chapter 11 Bankruptcy Code.
According to a news release, company leaders say the housing divisions will close due to the decline in the housing market
CEO, Jeff Wick says, "We have determined that the Chapter 11 process provides the most orderly means to liquidate some of the Company's assets, restructure its obligations, bring in additional investor capital, and facilitate the ongoing operations of Wick Buildings, either through a sale to a new ownership group or reorganization of the company."
Earlier this month, Wick announced the layoffs of 142 employees in Marshfield.
Wick makes manufactured homes and buildings.
To read the entire press release from Wick Building Systems, Inc. click here.
Online Reporter: Kelsi Schindler
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