By Brandon Zimerman
Smurfit-Stone Container Corp. (SSCC) said Monday that its U.S. and Canadian units have filed for bankruptcy protection as the packaging and containerboard company looks to restructure its debt and improve profitability.
The company had warned lenders earlier this month that it could file for bankruptcy amid weakening sales and a cash crunch.
Chief Executive Patrick Moore said the company's performance hasn't reflected its potential "due to higher cost operations and burdensome debt levels dating back to the original formation of the company."
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http://money.cnn.com/news/newsfeeds/articles/djf500/200901260651DOWJONESDJONLINE000159_FORTUNE5.htm
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