Western Tool Supply emerges from Chapter 11
Reorganized company will operate 20 stores in Oregon, Washington, Idaho, Montana and Utah.
Salem, Oregon — After a difficult twelve month process, Western Supply Corporation, doing business as Western Tool Supply, has received a final decree from Federal Court in Eugene, Oregon, and has emerged from Chapter 11.
The Reorganization Plan was approved by creditors on March 19, and the final discharge was effective June 29, 2010, according to company President, Kevin Kiker.
The company filed for Protection from Creditors on June 9, 2009, and immediately began the process of restructuring and reorganizing during the worst construction and housing market downturn in fifty years.
With the cooperation of creditors and the bank, Western Tool Supply was able to negotiate a settlement that allows the company to conduct business in a streamlined and more efficient manner.
Western Tool Supply will operate with 20 remaining stores in Oregon, Washington, Idaho, Montana, and Utah.
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