Protection One extends again

SSN Staff  - 
Thursday, July 1, 2004

TOPKEA, Kan. - Another agreement that extended the due dates of Protection One’s outstanding debts has come and gone, and only time will tell what the company’s next move will be.
The agreement, which was the second granted to the security company, required Quadrangle Group affiliates to continue to refrain from taking any collection actions due to defaults by Protection One, expired on June 8. But the agreement was to be automatically extended for three consecutive one-week periods.

Protection One, which was bought by Quadrangle Group in January, has been involved in a reorganization to reduce the debt it accumulated during the mass-marketing frenzy of the early 1990s.