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Whitfield County-based Beaulieu files for Chapter 11 bankruptcy

The move allows the company to reorganize itself without getting into trouble with its creditors. (Image: MGN)

Whitfield County-based Beaulieu, one of the biggest carpet makers in the country, has filed for Chapter 11 bankruptcy in federal court in Rome, Georgia.

The move allows the company to reorganize itself without getting into trouble with its creditors.

Filings say Beaulieu owes between $50 and $100 million to its creditors, but those creditors have said they will work with the company as it restructures, providing what's known as debtor-in-possession financing. That will let the company continue to operate all of its operations, including its trucking business and carpet plants without fear of having to be shut down.

Beaulieu has been in operation for almost 40 years, but has struggled recently as the demand for carpet has lagged overall in recent years.

Read the bankruptcy filing court documents below:

Depend on us to keep you posted on this developing story.


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