Ironclad Performance Wear Corporation, best known for its performance work gloves, announced that the company and its subsidiary filed voluntary petitions under chapter 11 protection in the U.S. Bankruptcy Court for the Central District of California on Friday, according to a press release. The company’s chapter 11 cases are expected to be jointly administered. During the duration of the chapter 11 cases, Ironclad will continue in the possession of its assets and will continue to operate and manage its business in the ordinary course, including continuing the development, manufacture and sale of its high-performance task-specific work gloves, pending the sale of substantially all of its assets pursuant to a sale under Sect. 363 of the Bankruptcy Code. The company intends to request court approval of a series of customary motions related to the payment of various expenses to continue operations.
