EXETER – Svenhard’s officially filed for bankruptcy last month, spelling trouble for the central valley baking company.
On Dec. 19, the company filed for chapter 11 bankruptcy citing between $10 and $50 million in estimated liabilities owed to between 200-999 creditors. According to Svenhard’s bankruptcy paperwork the company has between $1 million and $10 million in estimated assets.
In a resolution passed unanimously on Dec. 13 by the Svendhards Swedish Bakery Board of Directors, they determined that it was best to file for bankruptcy.
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