Napa Home & Garden files Chapter 11 following numerous FIREGEL-related incidents
Casual Living Staff -- Casual Living, 7/7/2011 1:35:17 PM
The Wall Street Journal is reporting that Napa Home & Garden filed for Chapter 11 bankruptcy protection Tuesday. WSJ bankruptcy blogger Katy Stech said the Georgia-based company's Pourable NAPAfire and FIREGEL fuels, which were recalled by the company after numerous reports of gel-related burns, have resulted in more than 70 incident-related insurance claims.
The U.S. Consumer Product Safety Commission, in cooperation with Napa Home & Garden, voluntarily recalled about 460,000 units of the bottles and jugs.
Stech said the filing indicates Napa plans to sell itself through a court-supervised auction, an event that has a leading bid of $1.1 million from Teters Floral Products Inc. of Missouri.
Read Stech's full story here.
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