White Way Sign files for bankruptcy protection

[Erik Sine]

White Way Sign, a century-old company that's had a hand in everything from the landmark Chicago Theatre and Wrigley Field marquees to the U.S. Cellular Field and United Center scoreboards, has filed for Chapter 11 bankruptcy protection, the Chicago Tribune reports.

[vincesigns]

here is a link to the article ... http://www.chicagotribune.com/business/ct-white-way-sign-bankruptcy-1118-biz-20141117-story.html

[Erik Sine]

Your the third person to send me that link but it keep telling me to enter my member info which I don[t have for that newspaper.

[Erik Sine]

Here's one I just found

http://www.dailyherald.com/article/20141119/business/141118122/

[gvidas]

You can get to the Chicago Tribute article if you pull it up on google first, i.e. go here and click the top result: http://www.google.com/search?q=chicago+tribute+white+way+sign

[Erik Sine]

Thanks for that George!

Were they a union shop?

[Snoochie]

Were they a union shop?

Erik;

Apparently they owe nearly a million dollars to a defined pension fund. Defined funds are paid 100% by the employer and most companies today are not defined but contributory so I would have to assume they were union. Maybe just very benevolent...............

An excerpt from an article

"The largest unsecured creditor is the Sheet Metal Workers' National Pension Fund, which is owed nearly $858,000. Other unsecured creditors include Boston-based Cabot Industrial Value Fund, which is owed about $376,000 for lease obligations, and American Opto Plus LED, a California LED manufacturer, which is owed nearly $264,000, according to the filing."

Best

[Erik Sine]

The very thought of running a union shop these days would scare the hell out of me. I can't even imagine what the costs were to maintain. Unfortunate to/for all the lives it affects, from the ownership, employees, to the companies who supplied and acted as a line of credit.

[Signbroad]

At one time White Way Sign had the painters union, Sheet Metal Workers Local 73 and IBEW 134. They had a giant full service manufacturing plant and could do anything! Some of the biggest and best signs I have ever seen came out of that shop as well as the multitudes of scoreboards. Unfortunately as with many family business, some family member changes, never having worked anywhere else and faded delusions of grandeur did them in. Damn shame I worked there for many many years. About 7 years ago they downsized to focus on electronics and got rid of all shop workers except the electricians for electronic assembly and service work. Too bad they just refused to get with the times. Currently seeking South Side Chicago Sign gig.......

[fishing nut]

Went there a few times when I was with EGL. The owners were very open minded but Rick was the deciding factor and set in his ways If it wasnt his idea then it was no good. Did make a real good friend out of there. I believe their demise was planned. Family bushiness end up that way. They were into the liquidation generation.

They had the market cornered with service when the Whiteway electrodes were on the project and worked but they screwed that up and had massive failures and lost a majority of accounts.