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CHB (.08) Files for bankruptcy.

Champion Enterprises files for bankruptcy
10:30p ET November 15, 2009 (MarketWatch)
LOS ANGELES (MarketWatch) -- Champion Enterprises Inc. said Sunday it and its domestic operating subsidiaries have filed petitions for reorganization under Chapter 11 bankruptcy. Champion also said it has obtained a $40 million debtor-in-possession credit facility from some of its current lenders that will be available to fund post-petition operating expenses and to ensure that it meets obligations to employees, customers, and trade partners. The firm, which makes factory-built housing, said it made the move "to improve its capital structure and further strengthen its competitive position." The filing won't include Champion's operations in the U.K. and Canada.