Court rules to liquidate Duraco Products

Court rules to liquidate Duraco Products

There are 15 comments on the Plastics News story from Feb 25, 2010, titled Court rules to liquidate Duraco Products. In it, Plastics News reports that:

Injection molder Duraco Products Inc. is being liquidated after one of its creditors called for the U.S. Bankruptcy Court in Chicago to change its status to Chapter 7 from Chapter 11 protection because the company was "administratively insolvent and unable to reorganize." Duraco, based in Streamwood, Ill., was best known for molding lawn and garden ...

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Bill Rivera

Chula Vista, CA

#1 Mar 13, 2010
They did not even told all their suppliers.
Bill Rivera

Chula Vista, CA

#2 Mar 13, 2010
do you know what happened?
Former worker

Chicago, IL

#3 Mar 24, 2010
Bill Rivera wrote:
do you know what happened?
I know what happened...the owners, Kevin and Michael,ran that company in the ground. They hardly ever paid their workers, failed to pay their bills, and made promises they couldn't or wouldn't keep. They had people working there in the middle of winter WITH NOT HEAT!!! They have had the power shut off numerous times and have not paid the rent on the building in more than a year. Needless to say, they just have extremely poor management skills and should never be allowed to destroy lives of people like that again by not paying them their salary.
Vito

Woodbridge, Canada

#4 Apr 5, 2010
Im tryng to fin dsomwonw that used to work at Duraco

im looking to buy the compnay

please respond and let me knwo how to reach you
Former worker wrote:
<quoted text>
I know what happened...the owners, Kevin and Michael,ran that company in the ground. They hardly ever paid their workers, failed to pay their bills, and made promises they couldn't or wouldn't keep. They had people working there in the middle of winter WITH NOT HEAT!!! They have had the power shut off numerous times and have not paid the rent on the building in more than a year. Needless to say, they just have extremely poor management skills and should never be allowed to destroy lives of people like that again by not paying them their salary.
tinaprdh

Bellwood, IL

#5 Jun 5, 2010
I know you want to buy the co. but waht kind of experience do you have? I need to know you are going to hire some emloyees back, Right?
tinaprdh

Bellwood, IL

#6 Jun 5, 2010
Vito, What experience do you have to run the Co. Duraco? Are you looking to buy it and run it here? It would be difficult for me to move to Canada.
exo

Chicago, IL

#7 Aug 2, 2010
I cannot believe these idiots. I hate it when a wonderful product is destroyed by awful management!
I love their plastic pots & saucers and have bought over a hundred in various sizes over the years. Why did they have to go and screw up a wonderful product line?

Vito, I hope you are able to buy the company and put out the same quality product that was available before. Because nobody is replacing them on the market.
Edward Pascual

Philippines

#9 Sep 28, 2010
tinaprdh wrote:
Vito, What experience do you have to run the Co. Duraco? Are you looking to buy it and run it here? It would be difficult for me to move to Canada.
Are you intrested in buying stocklots of Duraco Pots?
Steve

Roy, WA

#10 Jan 27, 2011
I worked at duraco right across from the pine street jungle
John

United States

#11 Apr 26, 2011
I was in management with the compsny before it was known as Duraco. It was Phillips Products Co.Inc.
and was a subsidiary of Phillips Petroleum. It was a thriving profitable operation. I was there for over 4 years. What a shame some idiots have to destroy a good business.
Bill

Chesterton, IN

#12 Jun 7, 2013
The compnay was straddled with undiscosed liabiities when new ownership bought it back in 2007. The former management ran the compnay into he ground. I was there. he former managment never fully dislosed all the liabilities to the new onwership. Ne ownership never stood a chance. A majority of the former employees can't find work, thats how talented they where.
Felipe

Chesterton, IN

#13 Jun 7, 2013
The owners tried to turn the company around. They just never had the support of the entitled workfoce.
all the way

Chicago, IL

#14 Jun 29, 2016
Michael , I'm still waiting for some answers and money on this case. The last time l heard anything is about 4 years ago when to court for the second time other coworkers. I worked duraco 22 years and have been waiting ever since for answers....
.6/28/16.
rambler rich

Fort Worth, TX

#15 Mar 15, 2017
all the way wrote:
Michael , I'm still waiting for some answers and money on this case. The last time l heard anything is about 4 years ago when to court for the second time other coworkers. I worked duraco 22 years and have been waiting ever since for answers....
.6/28/16.
management didn't care at all...I worked there also in 1997 to 1999 as a mechanic.....wow
After Bonham

United States

#16 Aug 7, 2017
I worked there from 1987-2001. During that period, company had state-of-the-art mfg facilities, motivated ESOP employees, 40% market share, dominant supplier to Walmart, Target & Home Depot, extremely valuable real estate & location on RT 20, innovative new products & quality control, new distribution system & buildings and profitable, growing sales.

How the company imploded from 2002 to 2007 prior to the 2007 sale of the company should be a Harvard Business Case Study.

Mind-blowing!

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