Thursday, November 17, 2005

England creditors to receive payments from O'Sullivan

A federal bankruptcy judge earlier this week granted permission for O'Sullivan Industries to continue paying what it owes creditors in the United Kingdom. As noted earlier in The Turner Report, some debt toward Lamar and area businesses has been totally written off, but O'Sullivan feels it is critical that the people it owes in England be paid off.
Documents filed earlier this month in U. S. Bankruptcy Court indicated O'Sullivan officials feared that their fledgling operation in the U. K. might collapse if they are not allowed to pay the money. O'Sullivan Industries has about a dozen employees in that overseas office.

3 comments:

Anonymous said...

Randy - You should do some checking and see just how much they stuck the local businesses for. Start with the Lamar Enterprises (Sheltered Workshop), Higgins Pallets or Lamar Truck and Tire. How could you, in good conscience, pay the oversees companies and not those in your back door?!? Oh wait...the key phrase there was "in good conscience"!!!

Anonymous said...

Randy,

This may just be rumor but it sounds like something that the people running the big O' would do. I heard today that the City of Lamar has asked some of it's employees if they would go without their next paycheck since the Sity is short in the account that they pay from due to O'Sullivan not paying their utility bill or bills.

Like I said may be a rumor but thought you might want to investigate.

Anonymous said...

Surely that is not true. When you read the finiancial statements from the city it seems that they normally have quite a large excess of cash....I am sure that could more than cover the very little pay the city employee's get. Can you not pay your utilities in a bankruptcy? I would think that would not be something you could file on.