The company makes some of the most beautiful blown glass in the world. Now Blenko has a chance to bounce back after bankruptcy
A U.S. bankruptcy judge on Monday agreed to accept a plan filed by Blenko attorney Steve Thomas outlining a reorganization of the company.
In that document, the existing stock, belonging to several members of the Blenko family, will be canceled and new stock will issued in Walter and Don Blenko's names. They're the two who have fighting to keep the company open since financial trouble began back 2005.
The company filed for bankruptcy in 2011. A year later the Blenko's believe they have the ability to make the iconic company profitable once again.
"The company is going to continue on as it has. In fact, the company has identified a couple ways it can cut some costs," Thomas said.
Blenko Glass was founded in Milton in 1921. The company has made hand blown glass for everything from the National Cathedral in Washington, D.C. to smaller pieces sold worldwide.
Now that there's a plan for Blenko's future, Thomas says others are showing interest in the company.
"There have been expressions of interest from outside parties to invest in the company.”
But he says so far the Blenko's have not accepted any of those offers.
"Walter and Don Blenko have expressed a preference for getting the company out of bankruptcy before they start entertaining other potential investors," Thomas said.
You can visit Blenko to see the glass being made in progress. Visit the company's website at www.blenko.com.