Smurfit-Stone Container (fka SSCC)

[diamond90]

SSCC JANUARY 15, 2009 Smurfit Says Bankruptcy Is Possible Amid Crunch .

Smurfit-Stone Container Corp., one of the country's largest makers of cardboard boxes, has told lenders it could file for bankruptcy amid weakening sales and a cash crunch, people familiar with the matter said.

As an owner of timberland, paper mills and recycling centers, Smurfit-Stone is directly linked to consumer goods, with its cardboard wrapping everything from computers and high-definition TV sets to pizza and office furniture.

After the recession and credit crunch have pushed a series of retailers into bankruptcy court, such a filing by Smurfit-Stone would mark a widening of the economic downturn's effects.

Smurfit-Stone has hired bankruptcy counsel ...