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Eeco Inc

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BUSINESS
April 24, 1990 | DEAN TAKAHASHI, TIMES STAFF WRITER
EECO Inc., struggling to stave off bankruptcy, said Monday that its deal to sell its computer keyboard subsidiary to an unnamed buyer has fallen through and that it is now considering selling all other assets of the company. EECO Chairman Robert B. Bonney said the sale of its Maxi-Switch keyboard unit was abandoned because EECO's lender, Sanwa Bank in Los Angeles, rejected terms of the sale. Bonney declined to identify the potential buyer.
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NEWS
March 18, 1994 | ERIC LICHTBLAU, TIMES STAFF WRITER
School planners eye the sprawling industrial lot here, dotted with piles of debris from a razed warehouse, and they see the promise of a brand-new headquarters and another school for a city forced to use hundreds of portable classrooms to teach its children. For critics who have begun to question the Santa Ana Unified School District's spending habits with increasing stridence, however, the barren lot has become more than that.
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BUSINESS
February 8, 1989 | DAVID OLMOS
EECO Inc. has agreed to sell its airline passenger entertainment business to a group of Boston investors for $15 million in cash and notes. Avionics Technologies will lease a section of EECO's Santa Ana facility and continue making audio headsets systems there. The Boston group will retain all the unit's approximately 100 Santa Ana employees, according to Seymour A. Schlosser, EECO's chief financial officer.
BUSINESS
September 14, 1993 | Dean Takahashi / Times staff writer
EECO's Switch Division, under new ownership, plans to move to a new headquarters in Santa Ana's enterprise zone in October, the company said. The company also said the assets of EECO's Switch Division and its Electronic Keypad Division have been purchased by a holding company, Transico Inc., for an undisclosed price. Transico, formed for the acquisition, is led by President Don Lewis, EECO's general manager.
BUSINESS
April 17, 1990 | DEAN TAKAHASHI, TIMES STAFF WRITER
EECO Inc., a financially strapped maker of computer components, said Monday that it expects to report a loss of $10.3 million on revenue of $63 million for its fiscal year ended Dec. 31, 1989. The Santa Ana-based company attributed the anticipated deficit to a $6.7-million loss from continuing operations, a $2.2-million loss from its discontinued computer keyboard and hotel computer operations, and a $1.4-million loss from the cost of selling the units.
BUSINESS
February 22, 1991 | CRISTINA LEE, TIMES STAFF WRITER
Sterling R. Haight doesn't believe he's a born loser, but as a frustrated creditor in half a dozen bankruptcies over the years he was beginning to feel like one. When EECO Inc., a small Santa Ana computer products company, filed for a Chapter 11 bankruptcy reorganization last May, Haight decided he could no longer wait on the sidelines in hope of getting his money back.
BUSINESS
December 11, 1990
EECO Inc. announced that it has completed the sale of its hotel computer business to a Hong Kong-based investor group led by Dataprep Holdings Ltd. Under the sale, approved by a federal bankruptcy judge in Santa Ana on Friday, Dataprep Investor Group will acquire the assets of EECO Computer Inc. and the assets of EECO Inc. that are related to the hotel computer business. It has renamed the operation ECI Computer Inc.
BUSINESS
April 18, 1992
EECO Inc., a computer products company that emerged from bankruptcy proceedings 15 months ago, has filed for protection from its creditors again, according to a filing at U.S. Bankruptcy Court in Santa Ana. The Santa Ana company listed $7.1 million in assets and $7.6 million in liabilities, according to its filing Wednesday. EECO said it intends to reorganize its debt under Chapter 11 of the U.S. Bankruptcy Code. Telephone calls to the company for comment were not returned.
BUSINESS
April 18, 1992
EECO Inc., a computer products company that emerged from bankruptcy proceedings 15 months ago, has filed for protection from its creditors again, according to a filing at U.S. Bankruptcy Court in Santa Ana. The Santa Ana company listed $7.1 million in assets and $7.6 million in liabilities, according to its filing Wednesday. EECO said it intends to reorganize its debt under Chapter 11 of the U.S. Bankruptcy Code. Telephone calls to the company for comment were not returned.
BUSINESS
February 22, 1991 | CRISTINA LEE, TIMES STAFF WRITER
Sterling R. Haight doesn't believe he's a born loser, but as a frustrated creditor in half a dozen bankruptcies over the years he was beginning to feel like one. When EECO Inc., a small Santa Ana computer products company, filed for a Chapter 11 bankruptcy reorganization last May, Haight decided he could no longer wait on the sidelines in hope of getting his money back.
BUSINESS
February 1, 1991 | DEAN TAKAHASHI, TIMES STAFF WRITER
A federal bankruptcy court judge has confirmed a reorganization plan for EECO Inc., clearing the way for the computer components manufacturer to emerge from a Chapter 11 bankruptcy, the company said Thursday. U.S. Bankruptcy Court Judge John Wilson in Santa Ana approved the company's plan on Wednesday. EECO filed for bankruptcy protection last May after failing to sell company assets to raise cash to pay off creditors.
BUSINESS
December 11, 1990
EECO Inc. announced that it has completed the sale of its hotel computer business to a Hong Kong-based investor group led by Dataprep Holdings Ltd. Under the sale, approved by a federal bankruptcy judge in Santa Ana on Friday, Dataprep Investor Group will acquire the assets of EECO Computer Inc. and the assets of EECO Inc. that are related to the hotel computer business. It has renamed the operation ECI Computer Inc.
BUSINESS
November 3, 1990 | DEAN TAKAHASHI, TIMES STAFF WRITER
EECO Inc., a computer products manufacturer that filed for bankruptcy protection in May, said Friday that it has agreed to sell its hotel-computer manufacturing business to a Hong Kong investor group. EECO said Dataprep, a company headed by Hong Kong investor Fred Eu, will acquire its EECO Computer Inc. subsidiary in Santa Ana for an undisclosed price. Eu will serve as the company's chairman and Carl Jeremias will remain as president. Jeremias said EECO Computer Inc.
BUSINESS
April 15, 1989
EECO Inc., Santa Ana, reported a loss for 1988 of $13.2 million, contrasted with net income of $1.5 million for 1987. Discontinued operations accounted for most of the loss. Sales rose 25% to $60.9 million from $48.5 million. For the fourth quarter, the company lost $13.4 million, contrasted with net income of $717,000 a year earlier. Fourth-quarter results include a $5.2-million reduction in the carrying value of computer keyboard inventory due to shrinkage, obsolescence and excess quantities.
BUSINESS
October 12, 1990 | From A Times Staff Writer
EECO Inc., the computer parts manufacturer that filed for bankruptcy protection earlier this year, reported Thursday that two of its shareholders have filed a class-action lawsuit against company directors and certain past and present executives. The lawsuit, filed in federal court, alleges that EECO published false and misleading reports concerning the company's operating and financial problems between Dec. 21, 1987, and May 2, 1990, EECO said in a statement.
BUSINESS
August 31, 1990 | DEAN TAKAHASHI, TIMES STAFF WRITER
EECO Inc., the computer products maker that filed for Chapter 11 bankruptcy protection in May, said Thursday it has filed a reorganization plan to repay creditors and hopes to emerge from bankruptcy proceedings by the end of the year. Scott O. Davis, chief financial officer, said the plan calls for the company to pay $7.5 million to its largest secured creditor, Sanwa Bank in Los Angeles, and take out a loan of $3.5 million to satisfy the remainder of Sanwa's $11-million claim.
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