GuildMaster Emerges From Chapter 11, Goes Private: After a rough start to the year amid allegations of UL label fraud and the company’s subsequent filing for Chapter 11, Springfield, Mo.-based GuildMaster has officially emerged from Chapter 11 as a private company. Management and a small group of investors have purchased the company and earmarked $1,000,000+ of capital in effort to propel the company in a new direction.
A judge in the U.S. Bankruptcy Court for the Western District of Missouri in Springfield approved the reorganization plan that had already been accepted by the shareholders and creditors.
“Today, we officially have launched an extreme makeover of GuildMaster that will absolutely amaze you,” says Steve Crowder, GuildMaster’s CEO. “We are ecstatic about the future direction and the new opportunities of our all-new company. Buyers will start to see a number of exciting new marketing, product and operational changes at GuildMaster this fall, as we leverage what GuildMaster has always done well,” he asserts. “Next spring, the company will introduce a new customization program that is currently unavailable in the industry in order to provide interior designers and specialty retailers a unique opportunity for their businesses,” Crowder adds.
“We promise we will not stray from the fundamental tenets of design, quality, and fun that have built the GuildMaster brand for more than three decades,” Crowder says. “Our products will still be all about creating the WOW factor in every room and with an expanded staff, we are even more committed to the highest level of service.”
Referencing the earlier troubles, Crowder comments, “We have weathered 20 months of navigating a raging storm but the storm has passed, the seas are calm, the dawn is breaking, and the wind is blowing steadily on our backs. We have the same phenomenal team of retailers, sales representatives, suppliers, employees, and management, and we are proud to say that the new GuildMaster is standing in victory today as a stable and energized company.”