WebHeader_Grove.png
Play Live Radio
Next Up:
0:00
0:00
Available On Air Stations
Support NHPR with a year-end gift today for 2 chances to win a trip to Aruba!

Troubled North Country Steel Firm May Be Sold

IMG_0052_(Medium).JPG
Chris Jensen for NHPR
/

A Berlin steel company that is in bankruptcy is negotiating with several buyers and a sale is possible early next year.

 

Earlier this year Isaacson Structural Steel filed for Chapter 11 voluntary bankruptcy protection.

In a court filing it said it owed about $3 million to its top 20 creditors.

William Gannon is a Manchester bankruptcy lawyer working with Isaacson.

“Isaacson is currently negotiating with several interested parties," he said. "The negotiations have reached the point where draft asset purchase agreements have been exchanged."

That could be good news for the North Country.

“In all of the discussions, we have asked the prospective buyers whether or not they intended to continue to operate the facilities and in all instances they have said they do and will,” said Gannon.

Gannon said the sale could go through in February or March.

The plant is currently operating and has about 150 workers.

 

You make NHPR possible.

NHPR is nonprofit and independent. We rely on readers like you to support the local, national, and international coverage on this website. Your support makes this news available to everyone.

Give today. A monthly donation of $5 makes a real difference.