US Glass Packaging Company in trouble

In a move expected by many one of the last US manufacturers of glass packaging Anchor Glass Container files for Chapter 11 and effective immediately Anchor Glass named Chief Financial Officer Mark Burgess who joined the company in May as chief executive

Anchor Glass Container Corp stated that will continue paying employee salaries and to continue employee benefits without disruption and stated that its senior secured credit facility lenders have agreed to convert their loan facility into a debtor-in-possession facility so that the company may continue to operate.

Is the latest move by Tampa Florida based Anchor Glass Container Corp. (agcc) who voluntarily filed for reorganization under Chapter 11 the beginning of the end of US manufacturers of glass used in packaging?