Derco, Inc. files for Chapter 11

Derco, Inc. filed for chapter 11 reorganization yesterday at the United States Bankruptcy Court for the Northern District of California.  The San Francisco jeweler, founded in 1939, is represented by Macdonald & Associates.

Comments

[RM18Eagle]

It looks like they were recently authorized, by a San Fran Judge, to use cash collateral on an interim basis to help secure their pre-bankruptcy lender's claims ... Without the cash, they probably would have a much more difficult time trying to rebuild, but even with it, looks like they need to be pretty smart about how they're going to use it.