AATT01 (Formerly Known as Ames Holding Corp.) and Certain Affiliated Debtors Seek to Convert Chapter 11 Cases to Chapter 7

Construction & Property > Commercial Building & Real Estate

AATT01 (Formerly Known as Ames Holding Corp.) and Certain Affiliated Debtors Seek to Convert Chapter 11 Cases to Chapter 7

13 Jul, 2010 @ 12:55 pm EDT

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Commercial Building & Real Estate, Georgia

ATLANTA, July 13 /PRNewswire/ -- AATT01, Inc. (formerly Ames Holding Corp.) and affiliated Chapter 11 debtors* ("Debtors") submitted a motion to the Bankruptcy Court for the District of Delaware on July 1, 2010, for an order converting their cases from Chapter 11 to Chapter 7, effective August 1, 2010 and directing the Office of the United States Trustee to appoint a Chapter 7 trustee to liquidate the remaining assets of the Debtors.

To provide clarity for our customers, vendors and other stakeholders, the Debtors are not associated with Axia Acquisition Corporation dba Ames Taping Tools ("Ames Taping"), a newly created company. Ames Taping acquired substantially all of the assets of the Debtors on March 12, 2010, in a sale approved by the Bankruptcy Court. Ames Taping's primary ownership group is comprised of Aurora Capital Group, GSC Group, and Saybrook Capital.

About Ames Taping Tools

Headquartered in Duluth, Georgia, Ames Taping Tools (www.amestools.com) is the industry's leading provider of drywall finishing tools, supplies and training. Since 1939, Ames Taping and its predecessors have supplied, supported and serviced residential and commercial interior finishing applications through a network of company-owned and franchise operations in over 180 locations across the U.S. and Canada. The proposed conversion of the Debtors' Chapter 11 bankruptcy cases to Chapter 7 has no bearing upon the business of Ames Taping Tools.

*The Debtors in these cases are AATT011, Inc, (f/k/a Ames Holding Corp.), AATT008, Inc. (f/k/a Axia Incorporated), AATT009, Inc. (f/k/a TapeTech Tool Co., Inc.), and AATT001, Inc. (f/k/a Ames Taping Tool Systems, Inc.).


    CONTACT: Drew Garner, Chief Financial Officer
    770-243-2644
    dgarner@amestools.com

SOURCE Axia Acquisition Corporation dba Ames Taping Tools

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For more iinformation, go to www.prnewswire.com

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