CLARKESVILLE - A Clarkesville-based clothing fastener company has filed for Chapter 11 bankruptcy protection, according to papers filed in U.S. Bankruptcy Court in Gainesville.
Scovill Fasteners, Inc. will continue operations during court proceedings, according to published reports in several sources, including the Wall Street Journal. Scovill has claimed up to $500 million in liabilities with assets of up to $50 million dollars.
An affiliate of Global Equity Capital LLC is expected to buy out the company for $17 million as part of the reorganization. The agreement should ensure that the Clarkesville plant will continue day-to-day operations.
The company began in Connecticut in 1802, and is best known for making buttons for jeans and U.S. military uniforms.
Monday
May 19th, 2025
8:08PM
