NAMPA - Nampa-based MPC Corporation is filing for Chapter 11 bankruptcy protection, only days after announcing massive layoffs from their Nampa and Iowa operations.

In a company statement, CEO John Yeros says "Unforseen issues surrounding our integration of the Gateway Professional business unit, combined with adapting the operations of our manufacturing partner to additional customized requirements have proven more challenging than originally anticipated, and have contributed to extensive losses. We have evaluated all stragegic alternatives, and concluded that the filing was necessary at this time."

MPC's stock has been delisted from the New York Stock Exchange, and the company says therey do not anticipate any distribution to equity holders in conjunction with the bankruptcy.

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