Hilex Poly Co., LLC News
Hilex Poly Receives Court Approval Of Its First Day Motions
The first-day orders granted by the Court ensured that the filing will not impact day-to-day operations for employees, customers, suppliers and general business operations. Employee pay and benefits are fully protected, all current and future obligations to its customers are fulfilled, and that suppliers will be paid in full.
In addition, Hilex received interim approval to access its Debtor-in-Possession (DIP) financing. This financing provides additional reassurance to employees, customers and suppliers that Hilex can meet all of its ongoing commitments and demonstrates our lenders' belief in Hilex's business model and their long-term faith in the Company.
Hilex has also received the authority to pay all pre-petition and post petition invoices in the normal course of business. This ensures all suppliers are paid in full as invoices are due.
"We are extremely pleased by the approval of the first day motions," said
Hilex filed to reorganize under Chapter 11 on
About Hilex Poly Co., LLC (www.hilexpoly.com)
Hilex Poly Co., LLC is an industry leading manufacturer of plastic bag and film products. Focusing primarily on high density polyethylene (HDPE) film products and related services, our products range from bagging systems to agricultural films.
As an industry leader, we have introduced many new products and features into the marketplace. Our patented QuikMate EZ(R) open feature continues to be the standard for self-opening plastic bags. Other key innovations and patents include specialized bag features and dispensing hardware. All of our products and services are focused on practical solutions in our target markets.
Hilex is a US based company with headquarters in
Contact:
212-445-8213 / 212-445-8276
SOURCE Hilex Poly Co., LLC
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