very well put and as I suspected would be the case. It also shows the well thought out plan by WNBD in having flexibility in their manufacturing capabilities and use of contract manufacturers. I would have suspected that they had other options besides Surfil. There are many very capable form fill and seal, and blow molding facilities all over America as well as Canada (I know---because this is my business). I would even guess that once WNBD is nationwide and saturated in the US that they would be using regional facilities similar to Surefil to supply those regions.
Thanks soapy. Should put that to rest right here and now. Hard times for many companies with this credit crunch. Winning Brands has already looked at many things that can happen and have plans in place. That is great news.
What a great company. Eric repsonds so fast Soapy. Thanks for the quick response before the bashers got hold of this one. looking forward to a fri a.m p.r. I think tommorow would be pushing it, lol. Have a great evening E1
Need to make that a sticky for the time being. Its unfortunate for Surefil, hope they land on their feet. Fortunately for WNBD, they have the choice to outsource to hundreds of different contract manufacturers. This shouldn't slow production much in the interim.
It should not have a material impact on WBC. This has been in the "news/public" for over a week (June 8th). While news to many of us, business goes on as usual.
The chapter of the Bankruptcy Code providing (generally) for reorganization, usually involving a corporation or partnership. (A chapter 11 debtor usually proposes a plan of reorganization to keep its business alive and pay creditors over time. People in business or individuals can also seek relief in chapter 11.)
(more at above link)
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Surefil LLC, a contract manufacturer of shampoos, conditioners and mouthwash, filed a Chapter 11 petition on June 8 in its hometown of Grand Rapids, Michigan, saying assets are less than $10 million while debt exceeds $10 million.
The secured lender, Huntington National Bank, is owed $11.6 million.
The case is In re Surefil LLC, 09-06914, U.S. Bankruptcy Court, Western District of Michigan (Grand Rapids).
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Chapter 11 gives Surefil time to continue to operate and since WBC is a customer, Surefil would want to see the customer taken care of, and in Surefil case, if customer is continuing to grow, that growth could be important to Surefil operational plans going forward as it reorganizes...and part of repayment plan to creditors.
It's something that WBC I'm sure will monitor, but they presently are in best position as a customer and not a "vendor" to Surefil. WBC could choose to have its "secondary production" in the USA moved elsewhere. And in these economic times I'm sure adequate manufacturers are available to fill WBC needs going forward if it so chooses.
My guess we continue to move forward with Surefil unless compelling reasons to do otherwise (a breakdown of one or more components with regard to: service/quality, availability, and price)
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