Solar shields itself from bankruptcy by filing for Chapter 11 protection

摘要

NO-AD and Disney Sun Pals sunscreen manufacturer Solar Cosmetics Lab has filed for Chapter 11 bankruptcy protection.The move was prompted by poor sales of a new sun care product line that was tied into a major motion picture release.The Miami Gardens-based company is using its filing to obtain a 2.4m loan from existing lender KeyBank to fund operations,pay vendors and fulfil existing orders,according to its filing attorney Peter Shapiro of Shutts & Bowen.