Dolco Packaging Emerges From Reorganization
Olson Industries Inc. and its sole operating unit, Dolco Packaging Corp., have emerged from reorganization under Chapter 11 of the federal bankruptcy laws.
The companies said last week that their reorganization plan, confirmed by the U.S. Bankruptcy Court, calls for Sherman Oaks-based Olson to be merged into Dolco Packaging and for Dolco, a maker of plastic packaging products, to be the sole corporate entity emerging from Chapter 11.
Dolco, suffering from major losses, filed under Chapter 11 in May, 1989, and Olson followed last April. Under Chapter 11, a company continues operating but is shielded from creditors’ claims while it works out a plan to pay back its debts.
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