CVD Equipment Says Following Quarter-End, The Customer Associated With The $800K System Order Filed A Prepackaged Chapter 11 Bankruptcy Proceeding. Although Unsecured Trade Creditors Are Expected To Be Unimpaired Under The Proposed Plan, The Company Is Evaluating The Potential Impact On The Order And Its Backlog, Financial Results, Financial Position, And Cash Flows."
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Why It Matters
A customer who ordered an $800,000 piece of equipment from CVD Equipment just filed for bankruptcy protection. The company is still figuring out if this will affect the order, their sales pipeline, and their money.
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Source: Benzinga · Read the original report at the publisher. Headline and figures shown for context; data may be delayed.
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