Recyclers facing bankruptcy filings

May 22, 2012 | 03:38 PM | Lisa Gordon

Tags  scrapyard, bankruptcy, Sipac, Fox Hall, Lonestar Recycling, United Salvage & Auto, Lisa Gordon

PITTSBURGH — Two recyclers are facing bankruptcy proceedings after suffering financial difficulties in recent months.

United Salvage & Auto USA Inc. of Halifax, N.C., has filed for Chapter 11 bankruptcy protection, while Sipac Recycling LLC of Dallas is facing an involuntary Chapter 7 dissolution by its creditors.

United Salvage, which services eastern North Carolina and Virginia, lists assets of $3,275,950 and liabilities of $12,980,746, according to documents filed in U.S. Bankruptcy Court for North Carolina’s Eastern District. Its debts include more than $11 million to financial institutions, $206,520 to Erie, Pa.-based Eriez Manufacturing Co. and....

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