The lawyer for Wichita-based Pioneer Balloon Co. said employees and vendors will continue to be paid after the company appeared on Thursday in U.S. Bankruptcy Court for Kansas, the Wichita Business Journal reported. Filing last week under the corporate names Continental American Corp. and affiliate Pioneer National Latex Inc., both located at 5000 E. 29th St. North, the more than century-old balloon maker plans to restructure and remain in business. "We've got a lot liabilities, and we're looking to restructure," said attorney David Prelle Eron, who is CEO of Prelle Eron & Bailey PA, a firm that specializes in bankruptcy. "We're also looking for more longer-term equity partners to come in that'll be part of our big package." Eron said that Pioneer Balloon has reached an agreement with White Oak, the company's largest creditor, concerning the funding of the case. The company will continue to attend hearings as it works through the chapter 11 details, with the next court date set in mid-October.
