Denman Tire Weighs Up Closure Option
Financially troubled US producer of specialty tyres, Denman Tire Corporation, has indicated it may shut down its operations if alternative arrangements cannot be made. In a company statement, Denman restructuring advisor Richard Szekelyi said “the company has reached the difficult decision to begin reducing operations while we continue our efforts to secure financing and/or find a buyer. If these efforts are unsuccessful, there will be no other alternative but to close all of the operations.”