Around the Web: Moore-Handley files for Chapter 11

ABloomberg News article reports that Pelham, Ala.-based hardlines distributor Moore-Handley filed for Chapter 11 because it couldn't get cash from its lender, CIT Group.

Moore-Handley ranked 61st on the Home Channel News Top 150 Distributors Scoreboard, with 2008 sales of $145.5 million. That's down 13.4% from $168 million in 2007.

Founded in 1882, the company's Web site claims it offers an inventory of more than 38,000 items and programs with more than 1,000 major manufacturers.