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DAYTON — Dayton Superior Corp., which makes products used in concrete construction, said a federal bankruptcy judge in Delaware has approved the company's disclosure statement.
The company said late Monday the order signed by U.S. Bankruptcy Judge Brendan L. Shannon affirms that the document contains adequate information for creditors to evaluate its proposed plan of reorganization, which was filed July 23.
On April 19, Dayton Superior filed for Chapter 11 bankruptcy protection and said it received $165 million in financing to continue its restructuring. GE Capital, the financial-services unit of General Electric Corp., agreed to provide the financing.
Dayton Superior said it plans to mail creditors the disclosure statement, plan of reorganization and ballots to vote on the plan during the first week of September, with a deadline of Oct. 1.
A confirmation hearing on the reorganization plan has been scheduled for Oct. 14.
The company said earlier its shares will have "little or no value" while under bankruptcy protection and will likely be canceled following its reorganization.
