Spectrum brands files bankrupcy

[ccCapt]

Spectrum brands

Spectrum owns Tetra, Whisper, Marineland, Perfecto, Jungle, Instant Ocean, Visi-Therm, and other product lines.

 

[blrrobinson21]

Well are they still going to be around or are they gone?

 

[austinsdad]

Exerpt from the link above. Sounds like they'll be around.
I'd hate to have to start using another salt mix


The relief granted by the court will help ensure that Spectrum and all of its operating units in the U.S. and around the world continue to meet their respective obligations, subject to applicable limitations, to their suppliers, customers and employees in the ordinary course of business during the restructuring process, which is expected to be completed in approximately four to six months. The relief granted by the court will help ensure that Spectrum and all of its operating units in the U.S. and around the world continue to meet their respective obligations, subject to applicable limitations, to their suppliers, customers and employees in the ordinary course of business during the restructuring process, which is expected to be completed in approximately four to six months.

 

[neilanh]

Exerpt from the link above. Sounds like they'll be around.
I'd hate to have to start using another salt mix


The relief granted by the court will help ensure that Spectrum and all of its operating units in the U.S. and around the world continue to meet their respective obligations, subject to applicable limitations, to their suppliers, customers and employees in the ordinary course of business during the restructuring process, which is expected to be completed in approximately four to six months. The relief granted by the court will help ensure that Spectrum and all of its operating units in the U.S. and around the world continue to meet their respective obligations, subject to applicable limitations, to their suppliers, customers and employees in the ordinary course of business during the restructuring process, which is expected to be completed in approximately four to six months.

I think I'm seeing double.

It's a shame, though. In this economy lots of businesses are getting hit hard. It's sad to see.

 

[Kurt_Nelson]

I doubt if any of the companies that Spectrum holds will just go away. Spectrum is one of those holding companies that owns a TON of different businesses, all in different sectors of the market. They've just added the aquarium businesses within the last few years, if I'm not mistaken. Most likely, this is just the first step in finding buyers for some of their less profitable companies and getting creditors off their backs for a while.

 

[ccCapt]

Hmmmm....curious as to why this was moved to The Lounge...
Posts not related to aquaria but still remaning within the spirit of the Membership agreement.
This is definitely aquaria related, especially since it involves a tank manufacturer and the company that makes Instant Ocean and Reef Crystals.

 

[Fishyfanatic]

I responded to your other thread.

 

[BillD]

All those companies were once held by others or were independant. Tetra was owned by a drug/chemical company (as was Hartz Mountain). Each can be spun off or become independant again. This type of thing happens often it seems, when a company tries to grow too quickly by acquiring other companies. In rough economic times discretionary spending is the first to be cut back.