Fairchild faced with lack of liquidity

By Lisa Kerner

Charlotte, N.C., Jan. 21 - Fairchild Corp. said it was unable to make its quarterly pension funding payment of slightly less than $1 million due on Jan. 15.

The Dulles, Va.-based precision fastening systems manufacturing company does not have sufficient liquidity to fund its pension plan obligations and satisfy ongoing operational costs, according to a form 8-K filed with the Securities and Exchange Commission.

Fairchild also announced it will file its annual report on form 10-K for the year ended Sept. 30 late and does not know when the report will be filed.

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