Masonite Files Chapter 11

WILMINGTON, Del. (CN) – Masonite Corp. filed for Chapter 11 bankruptcy Monday, listing $2.6 billion in debts and $1.5 billion in assets. The door and fiberboard maker was taken over by buyout specialists Kohlberg Kravis & Roberts in 2005. Masonite’s recovery plan “wipes out equity investors,” Reuters news service reported. It employs about 8,500 people, 4,500 of them in the United States and Canada.

Exit mobile version