Acme Files Chapter 11 to Avoid Takeover

by George Waldon  on Monday, May. 5, 2014 12:00 am  

Lex and Alex Golden, father and son executives at Acme Holding Co., are fending off creditors with a Chapter 11 bankruptcy filing in hopes of preserving equity in Acme’s ownership of the $138 million-asset  Allied Bank of Mulberry (Crawford County). | (Photo by Jason Burt)

The parent company of Allied Bank of Mulberry was steered into bankruptcy to stave off a possible takeover by a fellow lender. The defensive move buys Acme Holding Co. more time to work out a solution with Chambers Bank of Danville and other creditors.

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