Supply Chain Council of European Union | Scceu.org
News

Textile Distributor Hits Ch. 11 After Supply Chain Woes

By Vince Sullivan (March 25, 2022, 5:58 PM EDT) — A New Jersey textile product distributor that serves some of the country’s largest retailers filed for Chapter 11 protection late Wednesday, blaming a COVID-19-related surge in prices and ongoing supply chain troubles for an inability to cover its trade debt obligations.

In initial court filings, Elite Home Products Inc. said increases in the price of raw materials as well as jumps in freight costs ahead of the COVID-19 pandemic in early 2020 continued to worsen over the next two years, reaching unprecedented levels.

President and majority shareholder Scott R. Peretz said in a first-day declaration that freight costs increased six times…

Stay ahead of the curve

In the legal profession, information is the key to success. You have to know what’s happening with clients, competitors, practice areas, and industries. Law360 provides the intelligence you need to remain an expert and beat the competition.

  • Access to case data within articles (numbers, filings, courts, nature of suit, and more.)
  • Access to attached documents such as briefs, petitions, complaints, decisions, motions, etc.
  • Create custom alerts for specific article and case topics and so much more!

TRY LAW360 FREE FOR SEVEN DAYS

Related posts

Grocery store rationing is back, but relax: The supply chain is doing fine

scceu

Cold Chain Update: Coronavirus continues supply chain disruptions

scceu

How To Create a More Efficient Global Supply Chain

scceu