Adios, they throw in the towel completely. Maybe some salvage value of selling the assetts, but I imagine the company hs been striped before giving it up.
Sold my last remaining shares for pennies...
Andrew-followed you into several "flyers", we both learned to stay where we know!!
Boyds asks bankruptcy court to sell assets
STANTON, Calif., March 2 (Reuters) - Boyds Wheels Inc Monday said it plans to petition bankruptcy
court to sell its assets and it will cease all manufacturing operations to conserve cash.
''The board of directors determined that the continued operation of Boyds was no longer economically
feasible or in the best interest of the company's shareholders and creditors,'' the company said in a
release.
Several companies have expressed interest in buying parts of the company, David Asher, Boyds
president, said in a release.
''Without a strong acquisition or merger partner, the board of directors believes that an asset sale of
this sort would maximize current value, minimize administrative expenses and result in an expeditious
resolution of the bankruptcy proceedings,'' Asher said.
Boyds wholly owns Hot Rods by Boyds, which makes custom cars and hot rods for individual
customers.
Based in Stanton, Calif., the company filed for Chapter 11 protection in federal court on January 30, the
release noted.
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