SANTA FE SPRINGS, Calif.-- Burke Industries Inc. recently filed a voluntary petition for relief under Chapter 11 of the Bankruptcy Code in the United States Bankruptcy Court for the District of New Jersey.
Economic downturn and rapidly increasing cost of utilities, insurance, certain raw materials and other overhead contributed to the company’s decision. Burke filed for bankruptcy to secure additional operating liquidity and financing, stabilize the company's financial condition, and maintain sufficient flexibility to restructure its debt.