Smitty

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The Alexandria-based supplier of building materials to remodelers and contractors had been affected by the crumblinb housing industry and filed for Chapter 11 bankruptcy protection inthe U.S. Bankruptcty Court for the Eastern District of Virginia in Alexandriaon Jan. 5. is providingf Smitty’s with a revolving line of credittotalingg $5 million, and a term loan of $9.5 Every voting creditor class accepted the plan, which forms a distribution trust that offers potentialk payouts for secured and unsecured creditors.
“With Bank of America’xs continued support through an exitloan Smitty’s is successfully emerging from bankruptcy as a new companu that will continue to serve our localk community,” said CEO Rick The family-owned business was founded in 1975 by Nelson and Pat It was the first time the compant filed for Chapter 11.