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Low on carbs, and funds, Atkins files for bankruptcy
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Contributor | Thomas Walker |
Last Edited | Thomas Walker Aug 01, 2005 01:03pm |
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Category | News |
Media | Website - Yahoo News |
News Date | Monday, August 1, 2005 07:00:00 PM UTC0:0 |
Description | NEW YORK (AFP) - Atkins Nutritionals Inc. (ANI), the company founded by the late, low-carb diet pioneer Robert Atkins, said it had filed for bankruptcy protection.
A company statement said Monday that the filing in US Bankruptcy Court in New York marked the final step in efforts to reorganise the business, which has been hit by waning interest in the once phenomenally popular, meat lovers' diet.
The company listed assets of 301 million dollars and liabilities of 325 million dollars.
The company said it had secured 25 million dollars in financing from creditors to operate during the bankruptcy proceedings, which it insisted would not impact day-to-day operations. |
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