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| Photo sent from Mountain Rita she says: ' this is my favorite Blenko photo, I download photos of glass I want to purchase. Aren't these colors the best?' |
Tuesday, December 18, 2012
Blenko Glass. Blenko Glass Blog - 365 Days of Blenko Photos
www.blenkoglass.com
www.blenkoproject.org to view photos and to learn more about Blenko Glass.
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The company makes some of the most beautiful blown glass in the world. Now Blenko has a chance to bounce back after bankruptcy
A U.S. bankruptcy judge on Monday agreed to accept a plan filed by Blenko attorney Steve Thomas outlining a reorganization of the company.
In that document, the existing stock, belonging to several members of the Blenko family, will be canceled and new stock will issued in Walter and Don Blenko’s names. They’re the two who have fighting to keep the company open since financial trouble began back 2005.
The company filed for bankruptcy in 2011. A year later the Blenko’s believe they have the ability to make the iconic company profitable once again.
“The company is going to continue on as it has. In fact, the company has identified a couple ways it can cut some costs,” Thomas said.
Blenko Glass was founded in Milton in 1921. The company has made hand blown glass for everything from the National Cathedral in Washington, D.C. to smaller pieces sold worldwide.
Now that there’s a plan for Blenko’s future, Thomas says others are showing interest in the company.
“There have been expressions of interest from outside parties to invest in the company.”
But he says so far the Blenko’s have not accepted any of those offers.
“Walter and Don Blenko have expressed a preference for getting the company out of bankruptcy before they start entertaining other potential investors,” Thomas said.
You can visit Blenko to see the glass being made in progress. Visit the company’s website at www.blenko.com.
READ THIS WITH AMUSEMENT. AND MANY QUESTIONS
IF NEW PEOPLE COME IN WILL THEY THEN BE RESPONSIBLE FOR THE CHEMICALS DEPOSITED IN LAND AND LAKE OVER THE YEARS? I ALWAYS WORRY ABOUT EPA ISSUES WITH THE FACTORY. WHILE THIS IS NOT MY AREA OF LAW, NOR IS IT WALTERS' AREA IT WOULD BE A BIG RED FLAG TO ME AS A POTENTIAL INVESTOR.
ALSO MANAGEMENT? HAVING MANAGEMENT THAT IS OFF PREMISES IS NEVER GOOD. HAVING INEXPERIENCED MANAGEMENT AND SALES TEAM IS NEVER A PLUS BUT PERHAPS NEW BLOOD WILL CHANGE THESE PROBLEMS.
EXCITING TIME FOR BLENKO AND FOR BLENKO COLLECTORS.
MR WALTER IS A HERO TO MANY.
MOUNTAIN RITA
NOTE FROM MOUNTAIN RITA
I DID NOT TAKE THIS PHOTO.
BUT I DO LOVE IT.
Read this
Perhaps employees could own a part of the company?
Any plans for this?
Are you kidding? Blenko will never allow employees a voice.
Perhaps management but no one else.
Check back in a year to see that I am correct.
No one will invest and no employee ownership.
Elle
Mountain Rita
My boyfriend is a lawyer and he seems to think new owners would assume responsibility for any / all
potential clean up. See the Carbide building in So Charleston - a 'gift' that was refused and stands empty some ten years later.
Potential issues are many.
Elle
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