Building materials retailer in bankruptcy
Tuesday, June 5, 2001 | 11:16 a.m.
KANSAS CITY, Mo. -- Payless Cashways Inc. has once again filed for protection from its creditors under Chapter 11 of the federal bankruptcy laws.
The troubled building-materials retailer, based in Kansas City, Mo., blamed a harsh winter and poor economic conditions for slumping sales and cash flow. The company said it is in talks with potential lenders and expects to have additional debtor-in-possesion funding in place.
The company first filed for Chapter 11 protection in July 1997. It emerged from bankruptcy in December 1997.
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