Reddy Ice files paperwork to apply for bankruptcy protection

Reddy Ice is the second ice-packaging company that has recently filed for bankruptcy. Arctic Glacier filed at the beginning of this year, and now Reddy Ice is following suit.

There is talk that Reddy Ice has plans to purchase Arctic Glacier, thus strengthening both companies and allowing Reddy Ice to emerge as a successful business after bankruptcy. The company decided to file for bankruptcy after their debt continued to rise.

The assets of the company hit $434 million at the end of 2011, but the liabilities were at $530.8 million. Reddy Ice has plans to come out of bankruptcy just 45 days after filing.

Please contact the Birmingham bankruptcy lawyers of Greenway Bankruptcy Law, LLC by calling (205) 324-4000 if you or someone you know has questions regarding the bankruptcy filing process.

Paula GreenwayPaula Greenway

Paula Greenway is a native of Birmingham and has focused her practice on consumer bankruptcy since 1996. She is licensed to practice law in all jurisdictions throughout the State of Alabama. Paula has handled over 5,000 bankruptcy cases ranging in complexity throughout her career and prides herself on being able to come up with creative solutions to her clients’ financial issues.