Gitto/Global Corp., a producer of soling compounds and materials for the wire and cable company, has filed for bankruptcy in the US Bankruptcy Court in Worcester. According to court documents, the Lunenberg-based company was said to be overstating its revenues by tens of million dollars by logging fictitious sales on its books.

A court appointed overseer named to handle the restructuring  of the company after its September shut down, said the company had been generating annual sales of $30 to $40 million, not the $100 million the company had claimed.

 

Share this story: