NEW YORK, Jan 20 (Reuters) - Escalade Inc, a maker of sports equipment and Martin Yale office supplies, said on Tuesday that it had received a letter from a lender, saying it was in default on its credit agreement.
The company said in a U.S. Securities and Exchange Commission filing that the company and the lender, JPMorgan Chase, are 'undertaking negotiations' concerning the default issues.
'The company is actively working on its 2009 business plan, which it believes will improve the company's operations and financial results, thereby meeting Chase's expectations,' it said in the filing.
It said there could be no assurance that an agreement will be reached.
(Reporting by Emily Chasan; editing by Carol Bishopric) Keywords: ESCALADE/DEFAULT (emily.chasan@thomsonreuters.com; +1 646 223 6114; Reuters Messaging: emily.chasan.reuters.com@reuters.net) COPYRIGHT Copyright Thomson Reuters 2009. All rights reserved. The copying, republication or redistribution of Reuters News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Reuters.
The company said in a U.S. Securities and Exchange Commission filing that the company and the lender, JPMorgan Chase, are 'undertaking negotiations' concerning the default issues.
'The company is actively working on its 2009 business plan, which it believes will improve the company's operations and financial results, thereby meeting Chase's expectations,' it said in the filing.
It said there could be no assurance that an agreement will be reached.
(Reporting by Emily Chasan; editing by Carol Bishopric) Keywords: ESCALADE/DEFAULT (emily.chasan@thomsonreuters.com; +1 646 223 6114; Reuters Messaging: emily.chasan.reuters.com@reuters.net) COPYRIGHT Copyright Thomson Reuters 2009. All rights reserved. The copying, republication or redistribution of Reuters News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Reuters.