Newport Furniture amends bankruptcy filing

Reported by: Mel Carlock
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Updated: 7/17/2013 12:26 pm
NEW ALBANY, Miss. (WTVA) -- A New Albany furniture manufacturing facility is closing its doors.

Officials with Newport Furniture received approval from a federal bankruptcy judge to convert a recent bankruptcy filing from Chapter 11 to Chapter 7.

In June, Newport officials asked the court of permission to reorganize, saying it owned between $1 and $10 million in assets but owed 200 creditors between $10 and $50 million.

In court filings, the company said 110 workers were notified they would be let go last month.

At one time, Newport Furniture employed around 150 people at the plant.

Court documents show the conversion of the bankruptcy status was in the best interest of the company and its creditors.

The court will appointed a trustee to oversee the bankruptcy and liquidation proceedings.
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