MacGregor Seeks Protection: MacGregor Sporting Goods Inc.,...

MacGregor Seeks Protection: MacGregor Sporting Goods Inc., whose sports gear has been used by a generation of schoolchildren, said it has sought protection from its creditors under Chapter 11 of the U.S. Bankruptcy Code. The East Rutherford, N.J.-based company, which makes baseballs, basketballs and footballs as well as team uniforms, has lost money for the past two years. It said it has suffered severe cash-flow problems partly because of its inability to raise credit. A company official said he is confident that the firm will emerge from bankruptcy and said it has no immediate plans to lay off any of its 500 U.S. employees.