(Bloomberg) — Another icon of post-war American suburbia went bust as Briggs & Stratton Corp. declared bankruptcy, felled by weak sales, too much debt and a final push over the edge from the coronavirus pandemic.The world’s biggest maker of gasoline engines for outdoor power equipment sought protection from creditors in a St. Louis bankruptcy court on Monday, citing debts of more than $1 billion. The filing included a $550 million bid for the company from KPS Capital Partners, a New York private equity firm, which promised to keep Briggs & Stratton in business without the crushing debt that plagued the …read more
Source:: Yahoo Finance
