Reddy Ice melts down
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April 13, 2012, 4:00 a.m. ET
Reddy Ice Holdings Inc., a maker and distributor of about 1.8 million tons of ice a year, filed for bankruptcy protection from creditors.
The company and a subsidiary, Reddy Ice Corp., listed consolidated assets of $434 million and debt of $530.8 million as of Dec. 31 in Chapter 11 documents filed yesterday in US Bankruptcy Court in Dallas, where it is based. Reddy Ice Corp. also sought protection.
Reddy Ice’s 2011 annual report was delayed because management needed more time to “finalize and analyze” its financial statements, the company said in a March 30 filing with the Securities and Exchange Commission.
Reddy Ice also said it was in talks on restructuring and reducing debt.