T R O U B L E D C O M P A N Y R E P O R T E R
Saturday, October 21, 2017, Vol. 21, No. 293
KATY INDUSTRIES: Lists $1.40 Million Net Loss at August 26
KATY INDUSTRIES: Lists $1.40 Million Net Loss at August 26
Katy Industries, Inc., et al., filed with the U.S. Securities and
Exchange Commission their monthly operating report for the period
from July 29, 2017 through August 26, 2017.
The Debtors' consolidated statement of operations showed a net loss
of $1.40 million on $nil of revenue for the period.
At June 30, 2017, the Debtors had $7.64 million in total assets,
$21.91 million in total liabilities, and -$14.27 million in total
At July 29, 2017, the Debtors had a $7.02 million beginning cash
balance. They listed total receipts of $93,342 and total
disbursements of $2.54 million. Disbursements include $2.48 million
in professional fees. Thus, the Debtors had $4.57 million ending
cash balance at August 26.
A copy of the monthly operating report is available at the SEC at:
About Katy Industries
Katy Industries, Inc. -- http://www.katyindustries.com/-- a
publicly traded Delaware corporation, and its wholly-owned direct
and indirect subsidiaries ("Company"), were organized as a Delaware
corporation in 1967. The Company is a well-known manufacturer,
importer, and distributor of commercial cleaning and consumer
storage products as well as a contract manufacturer of structural
foam products. It distributes its products across the United
States and Canada. It is best known for such brands as
Continental, Huskee, Color Guard, Wilen, Muscle Mop, Contico,
Tuffbin, and SilverWolf, among many others.
The Company operates three manufacturing facilities located in
Jefferson City, Missouri, Tiffin, Ohio, and Fort Wayne, Indiana,
with its corporate headquarters located in St. Louis, Missouri.
Katy Industries, Inc., and its affiliates filed a voluntary
petition for relief under the Bankruptcy Code (Bankr. D. Del. Lead
Case No. 17-11101) on May 14, 2017. The petitions were signed by
Lawrence Perkins, its chief restructuring officer.
Katy Industries disclosed $821,321 in assets and $58,421,346 in
Stuart M. Brown, Esq., at DLA Piper LLP (US) represent the Debtors
as bankruptcy counsel. The Debtors hired JND Corporate
Restructuring as their claims and noticing agent.
On July 31, 2017, the Office of the U.S. Trustee formed a committee
of retirees. The Retirees' Committee hired Womble Carlyle
Sandridge & Rice, LLP as legal counsel.
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