Marc Merklin Provides Commentary for Crain's Cleveland Business
February 1, 2023
Brouse McDowell partner Marc Merklin provided commentary to Crain’s Cleveland Business on the Chapter 11 bankruptcy filing of an area manufacturer in an article titled “Invacare Files for Chapter 11 Bankruptcy.”
The article notes that Elyria-based manufacturer Invacare Corp. and two subsidiaries recently filed for bankruptcy on January 31. Marc told Crain’s it was notable that they had a restructuring support agreement in place already. He explained that reorganization for a larger company like Invacare is much more feasible because they are better equipped to deal with the high costs associated with Chapter 11, while the sales of assets is more common with smaller and mid-size companies. Marc was quoted saying “[h]ere, it looks like they’re going through a true reorganization.” He ended by noting the proceedings may take between six months to a couple of years to conclude, subject to negotiations with the company’s major creditors.
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