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Business
Creditors Give Georgia Gulf A Break
by Alexander H. Tullo
April 20, 2009
| A version of this story appeared in
Volume 87, Issue 16
Georgia Gulf has received amendments from its creditors that will allow it to delay interest payments on two of its bonds for about a month. As a result, the company didn't pay $34 million in interest that was due on April 15. The polyvinyl chloride maker has been treading water since it bought Royal Group, a Canadian building products maker, in October 2006 on the eve of the housing crash. The company says it has about $100 million of liquidity—cash plus available credit—to run its business.
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