NEW YORK (AP) — A cable-box repair company owned by the private equity firm Bain Capital is filing for bankruptcy protection but says no jobs will be impacted.
Contec Holdings Ltd says it will continue to operate as usual during its Chapter 11 reorganization.
The Schenectady, N.Y.-based company says it expects to complete the process and reduce long-term debt within 60 days.
The company's reorganization plan was filed in the U.S. Bankruptcy Court for the District of Delaware. It said that lenders have agreed to provide financing as part of the reorganization, which will let it make payments to employees and suppliers.
Republican presidential candidate Mitt Romney was picked to head Bain Capital in 1984, after the firm was spun off from Bain & Co. Romney left Bain Capital in 1999.
