Tri-Lite Discharged
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SANTA ANA — Tri-Lite, which designs, makes and markets lighting systems, has been discharged from bankruptcy, according to its parent, Helionetics Inc. of Van Nuys.
Santa Ana-based Tri-Lite had filed for Chapter 11 bankruptcy protection last Feb. 26.
Helionetics said Tri-Lite’s revenues for 1997 should be between $11 million and $17 million, and that Tri-Lite expects to maintain its profitability.
Tri-Lite expects its common shares to resume trading “in the near future.”
Tri-Lite’s reorganization plan was confirmed by the U.S. Bankruptcy Court in Santa Ana. As a result of the reorganization, Helionetics owns 87.5% of Tri-Lite’s common shares.
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