MISCELLANEOUS OTHER INFLUENTIAL CHIP COMPANIES
While the above companies are clearly influential cornerstones in the Potato Chip Industry, those mentioned in the following articles also have had a hand in it’s growth.
Click Here or the photo below to learn more!
· Author/Byline: David Nicklaus Of the Post-Dispatch Staff
· Edition: FIVE STAR
· Section: BUSINESS
· Page: 8C
· Readability: 10-12 grade level (Lexile: 1170)
So Good Potato Chip Co., which closed its snack-food factory here three months ago, is seeking to reorganize under federal bankruptcy law.
So Good and two affiliated companies filed Chapter 11 bankruptcy petitions late Tuesday. So Good listed assets totaling $5.79 million and liabilities totaling $6.87 million. Its subsidiary in Lithonia, Ga., So Good South Inc., listed assets of $4.65 million and liabilities of $6.65 million. A subsidiary that leases equipment to So Good South listed assets of $550,000 and liabilities of $1.8 million.
So Good is based at 4190 Hoffmeister Avenue in south St. Louis County. Its plant at that location closed Sept. 30, throwing 58 people out of work. At the time, President William Culbert Jr. said Teamsters Union Local 688 had rejected a request for concessions that could have kept the plant open.
Since then, the non-union plant in Georgia also has closed. It had about 80 employees. Both plants made potato chips, popcorn, cheese curls and other products.
Culbert did not return a reporter's telephone calls Thursday. Local 688 officials also could not be reached for comment.
So Good's court filing says $4.3 million of its debt is owed to three secured creditors, who are not named. The remaining $2.54 million is owed to 125 unsecured creditors.
So Good South says it owes $2.4 million to two secured creditors and $4.2 million to unsecured creditors. The leasing company says its $1.8 million debt is to one secured creditor.
The unsecured creditor owed the largest amount is Dixico Inc., a packaging manufacturer in Dallas. It is owed $870,428 by So Good and $689,329 by So Good South.
Holders of other large debts include Thompson Brokerage Co. of Waco, Texas, owed $274,912 by So Good and $783,421 by So Good South; Lyle W. Currie Co., a potato supplier in Grand Forks, N.D., owed $35,942 by So Good and $749,313 by So Good South; Jack Rubin & Son Inc., a potato supplier in Chicago, owed $360,886 by So Good and $359,836 by So Good South; Parkway Packaging Inc. of St. Louis, owed $131,419 by So Good and $203,589 by So Good South; and Dino's Trucking of South County, owed $50,089 by So Good and $313,196 by So Good South.
· Index terms: SO GOOD FILE FILING BYNICKLAUS COMPANY CLOSING REORGANIZATION; COMPANY 11 PETITION LIST LISTING REJECTION OPENING EMPLOYEE STAFF; PRODUCT REPORTER OFFICIAL DEBT CREDITOR
· Record: 8803190849
· Copyright: Copyright (c) 1988 St. Louis Post-Dispatch
So Good Unit Sues Owners Of Parent Company
St. Louis Post-Dispatch (MO) (Published as St. Louis Post-Dispatch) - June 27, 1990
· Author/Byline: By Fred Faust; Of the Post-Dispatch Staff
· Edition: 3S
· Page: 7B
· Readability: 11-12 grade level (Lexile: 1270)
The owners of the closed So Good Potato Chip Co. have been sued by a subsidiary of the firm over a $485,000 note. But the company's bankruptcy trustee says the suit is unauthorized and will further complicate an already knotty bankruptcy case.
So Good Realty Co. charged in St. Louis County Circuit Court that the owners, A. Elmer Leeker Jr. and Doris P. Leeker, signed a promissory note in January 1988, but were in default as of March 1, 1988. The court papers identify Donald A. Block as the president of So Good Realty.
So Good Potato Chip filed for Chapter 11 bankruptcy in December 1988, after halting production at its plants at 4190 Hoffmeister Avenue in south St. Louis County and in Atlanta.
Block and a partner supposedly bought So Good after the bankruptcy petition was filed. In late May 1989, they took control of the company.
But in July the court forced Block and his partner out of the company after a lawyer discovered that Block had filed for personal bankruptcy and had been involved in two previous bankruptcies, none of which was disclosed to the court.
The court converted the case to a Chapter 7, which means liquidation. In September Norman W. Pressman was appointed trustee of the company.
''As trustee, I am the sole shareholder of So Good Realty,'' Pressman said. ''Block has no authority to file this suit. Both he and his lawyer ought to know better.''
A lawyer for the Leekers, Charles F. Dufour of Becker Dufour & Yarbrough, said he was aware of the note but could not comment on the suit because the Leekers have not yet been served.
· Index terms: (002) lawsuit owner closing so good company complication charge a signing paper document file filing eleven seven appointment naming selection choice
· Record: 5900042170
· Copyright: Copyright 1990 St. Louis Post-Dispatch
25 YEAR CHIP INSTITUTE MEMBERS HONORED
Potato Chip Institute 1966 Silver Anniversary Award Recipients
Each entry show the recipients brief bio with contributions to the Chip Industry. Please note some of the major industry players like Lay’s & Utz, both still doing very well even today!