Electricity and natural gas provider NorthWestern Corp., parent company of Blue Dot Services Inc., filed for Chapter 11 bankruptcy Sept. 15. While Blue Dot was not included in the Chapter 11 filing, NorthWestern said it is in discussions with interested parties to sell its principal nonutility businesses, which includes Blue Dot.
To prepare for its sale, Blue Dot announced that it completed the sale of six business locations during the third quarter of 2003 and reduced its debt from $20 million to less than $10 million. Robert Kennedy, Blue Dot's chief financial officer, said that the locations were sold in six individual sales, not to any roll-over or consolidator companies.