The descendant of a once-leading tire and rubber company, Uniroyal Holding Inc., is winding up its operations, and its iconic brand name will soon disappear as a functioning entity.
Uniroyal Holding Inc., which was a subsidiary of the former Uniroyal tire company, filed for Chapter 11 bankruptcy protection to satisfy all personal injury and wrongful death claims related to asbestos in products, settle remaining retirement benefits of former employees, and provide a distribution of assets to creditors.
The Naugatuck, Conn., debtor listed $10 million to $50 million in assets and $50 million to $100 million in liabilities in its petition filed in the U.S. Bankruptcy Court for the District of New Jersey on July 31.