U.S. Trustee appoints three to Katy Industries committee of retirees

By Caroline Salls

Pittsburgh, July 31 – The members of the Katy Industries, Inc. committee of retirees were appointed Monday by acting Region 3 U.S. Trustee Andrew R. Vara, according to a notice filed with the U.S. Bankruptcy Court for the District of Delaware.

The committee is comprised of Glenn Turcotte of Columbia, S.C.; Michael Gordono of Overland Park, Kan.; and Stephen Nicholson of Cheyenne, Wyo.

As previously reported, the U.S. Trustee was directed by the court to appoint a committee from the retirees who are currently receiving benefits under the company’s retiree welfare programs.

The committee members will be the authorized representatives of the retirees in the case.

According to Katy’s motion for appointment of a retiree committee, the stalking horse bidder for the company’s assets will not assume the retiree welfare programs as part of the proposed sale.

The company said it will be unable to bear the program expenses itself, “as these amounts are not budgeted in the wind-down budget.”

Katy, a St. Louis-based manufacturer, importer and distributor of commercial cleaning and consumer storage products, filed bankruptcy on May 14. The Chapter 11 case number is 17-11101.

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