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Naughton's files for Chapt. 11 bankruptcy

Posted at 11:50 AM, Nov 22, 2016
and last updated 2016-11-22 19:43:02-05

A longtime local plumbing, heating and cooling business filed for Chapter 11 bankruptcy protection Thursday.

Naughton's, which was founded in 1951, has three locations in town. President Frank Naughton told KGUN9 that the company filed for bankruptcy to prevent a hostile takeover from shareholders who were unhappy with the business. 

Naughton said customers won't notice a difference as the company reorganizes during the bankruptcy. He hopes to exit Chapter 11 "as soon as possible."

"We are pressing forward to get out of it as quickly as we can, but not too fast because we don't want to have to go back into it."