Reuters: Bankruptcy News: Reddy Ice preparing to file for bankruptcy - WSJ

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Reddy Ice preparing to file for bankruptcy - WSJ Apr 9th 2012, 03:08 April 9 | Sun Apr 8, 2012 11:08pm EDT April 9 (Reuters) - Packaged-ice maker Reddy Ice Holdings Inc is preparing to file for Chapter 11 bankruptcy protection and plans to hand ownership to a hedge fund holding the company's debt, the Wall Street Journal reported, citing people familiar with the matter. The company could seek bankruptcy protection this week, perhaps within the next two days or so, the paper said. Reddy Ice officials could not be reached for comment outside regular U.S. business hours. Hedge fund Centerbridge would exchange debt for majority ownership of Reddy Ice, the Journal said. The company could at some later point attempt to merge with Arctic Glacier Inc, a troubled rival in Canada that has filed for bankruptcy, the paper said.

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