Marine accessories manufacturer Ameritex filed for Chapter 11 bankruptcy protection and sold its assets to the Taylor Made Group. The business will be reconstituted as Ameritex Fabric Systems and relocated to Taylor Made’s facility in Bradenton, Fla.
Ameritex ran into trouble when its two top customers, Genmar Group and Crownline Boats, closed plants and filed for their own bankruptcy protection. Additionally, Ameritex said its primary lender, BB&T, had reduced its credit line by almost half.