Nirvana Files for Bankruptcy Due to Cash Shortage and Loan Defaults

NEW YORK ( TheDeal) -- Nirvana, with profits under water thanks to loan defaults and a cash shortage, hopes to find peace in bankruptcy court.

The Forestport, N.Y., water bottling company and affiliates Millers Wood Development, Nirvana Transport and Nirvana Warehousing, on June 3 filed Chapter 11 petitions in the U.S. Bankruptcy Court for the Northern District of New York in Utica.

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