Parent Company Of U-Haul Files Bankruptcy

By: Associated Press
By: Associated Press

U-Haul's parent company, Amerco, is seeking Chapter Eleven bankruptcy protection.

Officials with Reno-based Amerco say filing for protection from creditors will help the company restructure its debt.

Amerco says it filed today in U-S Bankruptcy Court in Nevada.

It says some subsidiaries -- including U-Haul, Oxford Life Insurance and Western Insurance -- aren't included in the filing, and won't be affected.

Shares in the publicly traded company dropped more than 16 percent today -- closing at four dollars and eight cents, down 81
cents.

(Copyright 2003 by The Associated Press. All Rights Reserved.)


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