Interlake asks court to ok payments

Jan 09, 2009 | 10:57 AM | Corinna Petry

Interlake Material Handling Inc., a Naperville, Ill.-based manufacturer of storage racks and shelving used in a vast array of industries, has filed for Chapter 11 bankruptcy protection and petitioned the U.S. Bankruptcy Court for the District of Delaware, to immediately approve payments to its top 30 "critical vendors," primarily consisting of steel suppliers.

Toledo, Ohio-based flat-rolled processor Heidtman Steel Products Inc. is owed the largest amount—$7.78 million—according to court documents obtained by AMM. Other steel companies Interlake wants paid within 20 days of its filing, so it can continue to receive supplies of steel and manufacture its products, are Steel Technologies Inc., Louisville, Ky., which is owed $1.77 million; Custom Steel Processing Inc., Madison, Ill., owed $1.61 million; and Performance Steel LLC, Brea, Calif., owed $1.24 million.....





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