Commercial and residential installation products manufacturer Nortek has filed for Chapter 11 bankruptcy protection.

The company filed a pre-packaged restructurization plan in U.S. Bankruptcy Court for the District of Delaware. The plan will eliminate almost $1.3 billion of the companies $2.05 billion debt. Nortek has also secured a commitment for a $250 million asset-backed credit facility that will be available for general business operations when the company exits Chapter 11.

Nortek released a statement saying it “expects to emerge from bankruptcy as a reorganized company as expeditiously as possible.”

If you are considering filing for bankruptcy, please contact the Boston bankruptcy lawyers of Joshua Spirn & Associates by calling 800-975-5346.