Debt-ridden Coleco Industries Inc., unable to maintain the sales momentum of its once high-flying Cabbage Patch dolls, said Tuesday it filed for Chapter 11 bankruptcy protection from its creditors. The move came after short-term bank lendors failed to grant it an adequate working capital credit line. Based on 1987 sales, Coleco is the nation's sixth-largest toymaker.
COLECO FILES CHAPTER 11
By Deseret News