US Plastic Lumber Corp., a maker of decking and lumber made from recycled plastics, said on Friday it has filed for Chapter 11 as a result of a weak balance sheet.
The company is seeking debtor-in-possession financing to support its current operations, the Boca Raton, Florida-based company said.
"Given our company's current condition, we believe that this action will give us the ability to preserve and maximize our value," Chief Financial officer Michael Schmidt said.
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