Tableware company EveryWare files for Chapter 11 bankruptcy

April 8, 2015 2:54 PM

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EveryWare Global Inc., the company behind Oneida and Anchor Hocking plates, forks and spoons, said Wednesday that it is has filed for Chapter 11 bankruptcy protection as part of a prepackaged deal with lenders that will enable it to stay in business.

The deal would eliminate $248 million of EveryWare's debt. In exchange, EveryWare's lenders will own 96 percent of its common stock after it emerges from bankruptcy protection. It expects that will happen in the next 60 to 75 days.

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