HVAC Breaking News

March 17, 2007: Fedders Attains Bankruptcy Court Approval to Sell Its Residential HVAC Business

March 17, 2008
/ Print / Reprints /
ShareMore
/ Text Size+

WILMINGTON, Del. - After receiving approval from Judge Brendan L. Shannon in U.S. Bankruptcy Court in Wilmington, Del., Fedders Corp. is selling its North American residential HVAC business, operating under the Fedders North America Inc. and Emerson Quiet Kool Corp. names, to Elco Holdings Ltd.

Fedders and its North American operations originally filed for reorganization under Chapter 11 of the U.S. Bankruptcy Code on Aug. 22, 2007. The company’s non-North American subsidiaries, which include operations in China, India, the Philippines, Germany, and the United Kingdom, were not included in the filing.

Fedders has been selling various operations to raise funds to pay its debts. In January, the company announced that it had sold the assets of its Fedders Islandaire Inc. subsidiary, a manufacturer of packaged terminal air conditioners, to Robert E. Hansen Jr., president of Islandaire. In February, the company announced that it had sold the assets and business of its Fedders Addison Company subsidiary, a manufacturer of commercial HVAC products, to Roberts-Gordon LLC.

Some creditors, however, believe that the company’s sales of these assets will not generate enough money to pay off all of its debts.

For more information about Fedders and the reorganization, visit www.fedders.com.

Publication date: 03/17/2008

Did you enjoy this article? Click here to subscribe to The NEWS Magazine

You must login or register in order to post a comment.

Multimedia

Videos

Image Galleries

2014 ACI Home Performance Conference

The 2014 ACI National Home Performance Conference & Trade Show was held in Detroit.

Podcasts

NEWSMakers: Michael Willburn

Michael Willburn, president, Infloor Heating Systems, joins the program to discuss his company, radiant heating, industry trends, and whether contractors are becoming more interested in radiant heating. Posted on July 11.

More Podcasts

ACHRNEWS

NEWS 07-21-14 cover

2014 July 21

Check out the weekly edition of The NEWS today!

Table Of Contents Subscribe

R-22 PHASEOUT POLL

Some in the industry are calling for the EPA to halt production of R-22 as of 2015. What do you think?
View Results Poll Archive

HVACR INDUSTRY STORE

plumbing-hvac.gif
2014 National Plumbing & HVAC Estimator

Every plumbing and HVAC estimator can use the cost estimates in this practical manual!

More Products

Clear Seas Research

 

Clear Seas ResearchWith access to over one million professionals and more than 60 industry-specific publications, Clear Seas Research offers relevant insights from those who know your industry best. Let us customize a market research solution that exceeds your marketing goals.

DON'T MISS A THING

Magazine image
 
Register today for complete access to ACHRNews.com. Get full access to the latest features, Extra Edition, and more.

STAY CONNECTED

facebook icontwitter iconyoutube iconLinkedIn i con