FREE e-Newsletter
Important News - Hot Topics
Get them Now!

Top News

Body Armor Maker Protective Products Files For Bankruptcy

February 01, 2010  | 

After declaring bankruptcy earlier this month, Protective Products of America, a Florida-based body armor manufacturer, ceased public trading of its stock, appointed a new chief executive and began an internal investigation, the company has announced.

Protective Products, which produces soft body armor products for law enforcement officers and the Modular Tactical Vest for the military, filed for Chapter 11 bankruptcy protection and will sell most of its assets to Sun Capital Partners, according to a company press release.

On Jan. 19, the company announced it had received notice that shares of PPA would no longer be traded on the Toronto Stock Exchange. The company is based in Sunrise, Fla., but originated in Canada.

A day later, Protective Products announced the U.S. government has brought charges against Chief Executive R. Patrick Caldwell for violating the Foreign Corrupt Practices Act. Neil Schwartzman, the chief operating officer, will serve as acting chief executive.

Tags: Body Armor, Protective Products


Be the first to comment on this story





POLICE Magazine does not tolerate comments that include profanity, personal attacks or antisocial behavior (such as "spamming" or "trolling"). This and other inappropriate content or material will be removed. We reserve the right to block any user who violates this, including removing all content posted by that user.

Other Recent News

Video: 2 Oklahoma Officers Shot, Suspect Dead
Two law enforcement officers were shot and the alleged shooter was killed Thursday when...
Study: Heroin Use Higher Than a Decade Ago
Far more people in the USA use heroin than a decade ago, a study from the federal...
Senate Confirms Loretta Lynch as Attorney General
Loretta Lynch was confirmed Thursday as the first African American woman to serve as...
Michael Brown's Family Files Wrongful-Death Lawsuit
The parents of Michael Brown, the 18-year-old who was shot and killed by a Ferguson police...
Protests Continue in Baltimore Over In-Custody Death, Union Chief Compares Crowd to "Lynch Mob"
A sixth day of protests over the death of Freddie Gray while in custody of the Baltimore...

Get Your FREE Trial Issue and Win a Gift! Subscribe Today!
Yes! Please rush me my FREE TRIAL ISSUE of POLICE magazine and FREE Officer Survival Guide with tips and tactics to help me safely get out of 10 different situations.

Just fill in the form to the right and click the button to receive your FREE Trial Issue.

If POLICE does not satisfy you, just write "cancel" on the invoice and send it back. You'll pay nothing, and the FREE issue is yours to keep. If you enjoy POLICE, pay only $25 for a full one-year subscription (12 issues in all). Enjoy a savings of nearly 60% off the cover price!

Offer valid in US only. Outside U.S., click here.
It's easy! Just fill in the form below and click the red button to receive your FREE Trial Issue.
First Name:
Last Name:
Rank:
Agency:
Address:
City:
State:
  
Zip Code:
 
Country:
We respect your privacy. Please let us know if the address provided is your home, as your RANK / AGENCY will not be included on the mailing label.
E-mail Address:

Police Magazine