Zenith Electronics Corp, Glenview, Illinois has advised in a filing with the US Securities & Exchange Commission that it faces serious liquidity problems unless it is able to renegotiate a credit agreement or increase its net worth: Zenith told Reuter that it is considering a full range of financing, strategic or other contingency plans, but would not comment on whether a bankruptcy filing was among them; as at September 26, it had net worth of $230m, $1m above the minimum amount required under a credit agreement as of the end of each quarter, and that as a result, it initiated discussions with the Bank of New York Commercial Corp in an effort toget the bank to relax the covenant on its loan pact.
