The chemical manufacturer has filed for bankruptcy protection for its US business operations and has secured $125 million in debtor-in-possession financing.
Lenox Group filed for bankruptcy protection in the US Bankruptcy Court for the Southern District of New York, citing economic conditions and an excessive debt load.
The struggles of companies like GMAC, GE Capital and of course the GSE's Fannie Mae and Freddie Mac underscore the opportunity in the fragmented debt collection industry.
