Tag: Landauer
Manufacturers reassess terms
August 30, 2013Liz Beaulieu, Editor
YARMOUTH, Maine - With three high-profile HME providers now moving through the bankruptcy process, should it come as a surprise that manufacturers are trying to protect themselves by tightening their payment terms?
Providers who responded to a recent HME NewsPoll say the days of 90-day payment terms are long gone. Instead, they say they're lucky to get 60 days and, in some cases, they're getting 45 days or less.
Manufacturers declined to provide specific payment terms to HME News—“We...
Confluence of factors led to LMI's bankruptcy filing
August 23, 2013Theresa Flaherty, Managing Editor
MOUNT VERNON, N.Y. - Landauer Metropolitan Inc. (LMI) is positioning itself for a quick sale in the wake of its decision to file for Chapter 11 bankruptcy protection, according to industry watchers.During a hearing Aug. 19, a U.S. bankruptcy judge gave LMI the go ahead to use its cash collateral to fund day-to-day operations until it is sold at auction. The company already has a $22 million stalking horse bid from Quadrant Management, a private equity firm that specializes in company restructuring....