Summary
Pittsburgh Brewing Co. is expected to ask U.S. Bankruptcy Judge M. Bruce McCullough in a hearing today for approval of an interim financing plan so that it can have operating funds to emerge from bankruptcy. The Lawrenceville brewery had reached an agreement to receive a line of credit up to $500,000 from East Liverpool, Ohio, businessman Craig Newbold, but creditors had objected to such a deal without a plan for permanent financing. The U.S. Alcohol and Tobacco Tax and Trade Bureau also is expected to repeat its demands that the brewery post a bond to cover the excise taxes on beer produced and shipped.The federal agency had previously postponed its demands that the brewery obtain a bond, while the brewery arranged for financing.
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Pittsburgh Brewery to Seek Interim Plan
Alcoa Chief Executive Alain Belda said Wednesday in New York the company may consider selling its packaging business if it cannot turn around that segment. Alcoa had announced plans to eliminate 6,700 jobs as part of its restructuring, including 470 positions in the packaging business. The firm will continue to operate its Reynolds fl...
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