Gaylan Industries Seeks Reorganization Under Chapter 11
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PLACENTIA — Gaylan Industries Inc., which manufactures bathroom furniture such as vanities, has filed for reorganization under Chapter 11 of the U.S. bankruptcy code.
The Placentia company listed debts of $7.1 million against assets of $5.9 million.
The manufacturer has temporarily shut its doors but intends to resume operations soon, said the company’s bankruptcy attorney, Ben Adelman of Pasadena.
Gaylan Industries, founded by owner Richard Wood in 1977, had revenue of about $17 million for 1992, Adelman said.
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