On May 21st, Paragon Industries, Inc. filed for Chapter 11 Bankruptcy protection, but authorities in the matter say the effort may be futile.
According to Bondoro.com, the company reported “$100 million to $500 million in both assets and liabilities. The filing indicates that there will be funds available for distribution to unsecured creditors.” Additional reporting from the Sapulpa Herald points to doubts about the filing’s legitimacy.
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