United States

United States

Kenetech 10th largest bankruptcy

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The bankruptcy of Kenetech Windpower was big news in the wind industry -- and it was big enough news across the US. According to the Turnaround Letter of January 1997, Kenetech's filing for Chapter 11 protection a year ago was the 10th largest bankruptcy nationally in 1996. That was gauged in terms of assets, which for Kenetech Windpower were $401 million. The largest tumble was by FoxMeyer Health Corp, which had far higher assets of $1.577 billion; the others ranked by size of assets were: Anchor Glass Container with assets of $1.208 billion; G. Heileman Brewing Co, with assets of $783 million; Best Products Co Inc with assets of $717 million; Anacomp Inc with assets of $659 million; Morrison Knudsen Corp with assets of $628 million; Colour Tile Inc with assets of $550 million; Discovery Zone Inc with assets of $477 million and Tiphook Finance Corp with assets of $401 million. None were in energy.

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