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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