Chapter 11 Chronology

 
11/09/09 – Wick Building Systems, Inc. issues WARN (Worker Adjustment and Retraining Notification) to all employees. Provisional notice provided to Wick Buildings employees.
 
11/23/09 – Wick Buildings Systems, Inc makes voluntary Chapter 11 filing in U.S. Bankruptcy Court for the Western District of Wisconsin. 
 
Wick Building Systems President and CEO Jeff Wick states that “the Chapter 11 process provides the most orderly means to liquidate some of the Company’s assets, restructure its obligations, bring in additional investor capital, and facilitate the ongoing operations of Wick Buildings, either through a sale to a new ownership group or reorganization of the company.”
 
11/23/09 – Meeting of Creditors scheduled for December 22, 2009 at 10:00am.
 

11/24/09 – Wick Buildings Systems, Inc. participates in First Day hearings before Chief Judge Robert D. Martin in U.S. Bankruptcy Court for the Western District of Wisconsin. At these hearings, Wick obtained the following approvals.

  • Approval of an amended financing agreement with the Company’s lender to provide adequate near-term funding and maintain operating continuity (A continued hearing on this matter is set for December 10, 2009 at 11:00am);
  • Authorization to pay pre-petition employee wages and other items;
  • Approval to utilize Wick’s pre-petition bank accounts and cash management system in order to minimize any disruption to the Company’s operations;
  • Authorization of protocol to provide adequate protection to utility providers;
  • Approval to continue the Company’s worker’s compensation program and pay related benefits; and
  • Extension of the deadline for the Company to file its Schedules, Statement of Financial Affairs and List with the Bankruptcy Court until December 18, 2009.

 

Wick Building Systems President and CEO Jeff Wick stated that “We are very pleased that all of our First Day Motions were granted and we were able to reduce the potential disruptions to our operations. We continue to focus on our core business and to provide outstanding products and services to our customers through our network of loyal builder partners.”