/24-7PressRelease/ - Tampa, FL, September 20, 2008 - Continental AFA and its wholly-owned subsidiaries, Continental Sprayers International, Inc. ("CSI") and AFA Products, Inc. ("AFA"), filed a voluntary chapter 11 petition in the Eastern District of Missouri United States Bankruptcy Court on August 7, 2008.
CAFA, headquartered in St. Peters, MO, designs, manufactures and supplies high quality plastic trigger sprayers and other liquid dispensing technologies and systems for major consumer product companies and industrial markets. CAFA has been positioned as one of two United States manufacturers of trigger sprayers for major consumer products companies. These offerings are integrated into (i) household consumer products for cleaning, laundry and lawn and garden applications and (ii) industrial and commercial products for automotive, janitorial and sanitation uses. CAFA also manufactures lotion, treatment, fine mist and condiment pumps.
CAFA's dispensing products are sold primarily to (i) multinational, national and regional manufacturers of brand name and private label consumer products and (ii) independent distributors of containers and packing products. North America is the principal market for CAFA's products. These products are found in a wide variety of consumer product outlets, including Wal-Mart, Target, Lowe's, Home Depot, grocers and other consumer product outlets. CAFA possesses leading industry technology, including over 370 active and pending trademarks and patents worldwide.
Focus has been appointed by the Court (i) to provide assistance with CAFA's Chapter 11 filing including the review and preparation of budgets, filing documents and DIP financing, (ii) to assume control over CAFA's cash and manage all elements of its working capital, (iii) to manage and facilitate the orderly wind-down and liquidation of CAFA's assets and (iv) to serve on CAFA's Board of Directors.
The Focus team is led by Joseph Figlewicz, a Managing Director of Focus Management Group. Figlewicz is a restructuring advisor with extensive experience in chapter 11 reorganizations, distressed business sales, financial restructurings and operational turnarounds. He can be reached at 800-528-8985 or j.figlewicz@focusmg.com.
About Focus Management Group
Focus Management Group offers nationwide capabilities in turnaround management, business restructuring and asset recovery. Headquartered in Tampa, FL, with offices in Atlanta, Chicago, Cleveland, Greenwich, Los Angeles and Nashville, Focus Management Group provides turn-key support to stakeholders including secured lenders and equity sponsors. The Company provides a comprehensive array of services including turnaround management, interim management, operational analysis and process improvement, bank and creditor negotiation, asset recovery, recapitalization services and investment bankers to distressed companies.
For additional information about Focus Management Group, please visit http://www.focusmg.com or call 800-528-8985
# # #
Read more Press Releases from Kristin Myers:Other Press Release Headlines:
