U.S. Industries Inc. has reached an agreement with its lenders on the terms of a comprehensive restructuring plan of its bank debt and the bank debt of Rexair Inc., which is guaranteed by U.S. Industries. The company said it is accepting bids from potential purchasers of its businesses outside its core bath and plumbing operations, and expects to evaluate competing offers and determine a course of action that would maximize value.
Did you enjoy this article? Click here to subscribe to Plumbing & Mechanical.
For plumbers in Flint, Mich., “it’s been a heck of a year,” said Harold T. Harrington, a master plumber and pipefitter working as the business manager for Flint’s United Association of Plumbers and Pipefitters, Local 370. Read more stories in 2017 March Issue.