The nation's oldest cutlery manufacturer has filed for bankruptcy after 177 years of making knives and other kitchen tools.
The Recorder of Greenfield (http://bit.ly/1n9sVuo ) reports that Lamson & Goodnow Manufacturing Co. of Shelburne Falls, Massachusetts, filed for Chapter 11 bankruptcy earlier this month, which protects the company from creditors as it reorganizes.
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The business has also put its 18-acre factory complex up for sale.
According to federal bankruptcy court in Springfield, the company filed for bankruptcy protection as a result of two multimillion dollar loans it could not repay. The company owes $1 million on a U.S. Small Business Administration loan and more than $2 million to the small business corporation in New York.
Founded in 1837, the company has been owned by James Ross Anderson since 1998.
Information from: The (Greenfield, Mass.) Recorder, http://www.recorder.com