CHARLESTON, W.Va. (WSAZ) -- A bankruptcy court hearing involving Freedom Industries Friday revealed a change of course for the company and what will happen as the investigation into the chemical spill continues. <\/p>\n
Attorneys representing Freedom Industries said the company's problems far outweigh what it can handle and the business will eventually shut down. <\/p>\n
Freedom Industries' CEO, Gary Southern, was not in the courtroom Friday. <\/p>\n
Attorney Mark Freedlander represented Freedom Industries. <\/p>\n
Freedlander said the company will remain in Chapter 11 bankruptcy. <\/p>\n
He said after recognizing the costs, business appears to be unpractical under the circumstances. <\/p>\n
Freedlander also said Freedom Industries' leftover inventory is being sold to existing customers and depleted. <\/p>\n
Attorneys said the company plans to transition those customers to competitors. <\/p>\n
Freedlander said the company hopes current employees will be able to find new positions with competitors or vendors that work with Freedom Industries. <\/p>\n
According to Freedlander, employees and customers were made aware of the situation Friday morning. <\/p>\n
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Originally posted here:<\/p>\n
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