Consumer products maker Sunbeam Corp. said it has emerged from Chapter 11 bankruptcy protection and said its chairman will make an investment in the company.
The Boca Raton, FL, U.S.-based company said it would change its name to American Household Inc., which will operate three subsidiaries: The Coleman Co. Inc., Sunbeam Products Inc., and First Alert/Powermate Inc.
Jerry Levin, chairman and chief executive of American Household and chairman of each subsidiary, will make an investment in the company as it emerges from bankruptcy protection, the company said. American Household's reorganization plan had been confirmed by a bankruptcy court in southern New York in late November. Substantially all of its bank debt was converted into equity in that reorganization.
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