On 21 December 2012, the US Bankruptcy Court for the Central District of California entered a final decree that marked the conclusion of Contessa’s two-year bankruptcy process, which resulted in the sale of its operating businesses and the payment of Contessa’s creditors in full.
“I created a company from nothing and within 27 years I generated nearly $4bn in aggregate sales,” said president and CEO, John Z Blazevich. “I also built the world’s first ‘green’ LEED-certified frozen food manufacturing plant, reducing daily energy use and CO2 emissions by 65% (relative to 1990 Kyoto Protocol baseline standards).
“As president, CEO and founder, it was my risk, my reward and ultimately my decision to place Contessa into bankruptcy protection. I am very proud to say that my creditors have been paid in full.”
Source: Contessa
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