Oreck Vacuums Files for Chapter 11

NASHVILLE (CN) - Vacuum cleaner-maker Oreck filed for Chapter 11 bankruptcy but plans to keep operating while it seeks a buyer.

Oreck and seven affiliates filed for bankruptcy declaring, in general, $10 million to $50 million in assets and liabilities.

Oreck laid off workers in October 2012 and again in January. It has about 600 employees remaining, including 250 in its manufacturing plant, 325 in retail stores and 70 at its corporate headquarters in Nashville, according to the Christian Science Monitor.

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