In mid-February, AMPAM reached an agreement in principle with its senior lenders for the terms of a proposed reorganization plan. Under the proposed plan, AMPAM's existing businesses would continue operating and emerge from bankruptcy as restructured entities.
AMPAM Sells Atlas, Agrees To Proposed Plan
April 1, 2004
American Plumbing and Mechanical closed the sale of AMPAM Atlas Plumbing LLC in two transactions. The assets of AMPAM Atlas Maryland were purchased by Ben Lewis Plumbing, and the assets of AMPAM Atlas Virginia were purchased by Stephen Turner. These sales are part of AMPAM's reorganization plan.