Report: Libbey Postpones Chapter 11 Exit
According to a local media report, Libbey Inc. has postponed the date that it plans to emerge from Chapter 11 bankruptcy until the first week of October.
libbey
Libbey Updates Reorganization Plan
As Libbey continues to navigate its recent bankruptcy filing, it has filed an amended plan of reorganization and a related disclosure statement in the U.S. Bankruptcy Court for the District of Delaware.
Libbey To Shutter Shreveport Factory
As Libbey continues to navigate its Chapter 11 filing, the company plans to close its Shreveport, LA, factory. The closure is part of cost reduction measures and to better align manufacturing capacity with lower levels of projected demand.
Libbey Reports Net Loss In Q1
Libbey reported its first quarter revenue was down with a net loss of $78.7 million in the period ending March 31. The loss comes on the heels of the company filing for a court-supervised reorganization under Chapter 11.
Libbey Receives Court Approval For ‘First Day’ Motions
Libbey Inc. has gained bankruptcy court approval for its “first day” motions related to its voluntary Chapter 11 petitions for reorganization filed on June 1, 2020.
Libbey Files For Chapter 11 Reorganization
Libbey Inc. has announced the company and its U.S.-based subsidiaries have filed voluntary petitions for a court-supervised reorganization under Chapter 11 of the Bankruptcy Code in the U.S.
Libbey Sets Cost Reduction Measures Amid COVID-19
In light of rapidly evolving market conditions, Libbey said it is implementing a number of additional cost reduction measures that includes a pay reduction for all salaried associates in the U.S. and Canada through September 30, 2020.
Libbey Halts U.S. Production Amid Coronavirus Concerns
Libbey has temporarily halted production at its Toledo, OH, and Shreveport, LA, manufacturing facilities for a minimum of two weeks beginning March 23. Company officials stated the changes are in response to the continued spread of COVID-19 and uncertainty regarding the potential impact on the company’s business demand.
Libbey Rolls Out Kearney Stackable Glassware
Libbey is rolling out its stackable Kearney glassware assortment, in an effort to offer consumers space saving glassware solutions in the home.
Libbey Q4 Net Sales Decline
Libbey has reported a decrease in its net sales and a wider net loss for the fourth quarter. The company stated the decrease was due to a challenging market and a shortened fourth quarter 2019 holiday season.
Libbey Appoints Amezquita Chief Financial Officer
Libbey Inc. has appointed Juan Amezquita as the company’s svp/chief financial officer and treasurer, effective January 13, 2020. He succeeds James Burmeister, who has served as Libbey’s CFO since March 2017. Burmeister will remain at the company as svp/chief operating officer.
Libbey Makes Progress In Q3
Despite soft market conditions and a recent restructuring initiative, Libbey reported that sales edged up while its net loss decreased in the third quarter.
Libbey To Introduce New Tumbler Lineup
Libbey will introduce new glassware this fall season, with a focus on its Lava tumbler line as well as paneled stackable tumblers.
Mike Bauer, Libbey
While still new in his role as CEO of Libbey, a market leader in the glassware industry, Mike Bauer has more than 30 years of experience with leading consumer product companies.
Libbey To Drive Growth With Corporate Restructuring
Libbey is kicking off a corporate organizational realignment plan that company officials said is designed to drive improved performance and growth. It said the plan is expected to reduce annual pre-tax run-rate costs by approximately $9 million to $11 million.
Libbey Sharpens Focus In Soft Q2
Facing what the glassware manufacturer called soft market conditions in several regions and channels, Libbey maintained that its second quarter outpaced its expectations, with modest sales growth in the U.S.
Libbey Reports Net Loss In Q1
First quarter revenue at Libbey was down slightly as the company reported a larger net loss for the three month period ended March 31.
Libbey Debuts New Stemless Wine Glasses
Libbey has introduced two new stemless wine glasses that company officials said bring a new design twist to the stemless wine category.
Libbey Prepares Linnea Serveware For New York Tabletop Market
Libbey will debut the Linnea line of glass serveware at the upcoming New York Tabletop Market, scheduled to be held April 2 to 5 at Forty One Madison.
Libbey Names Bauer CEO As Foley Retires
Libbey Inc. has named Mike Bauer as the company’s next CEO, effective March 25. Bauer was also appointed to the company’s board of directors, also effective March 25. Bill Foley, Libbey’s current CEO and chairman of the board, will retire as CEO effective March 24, but will remain with the company as executive chairman of the board.