ISA struggles with financial headwinds

Aug 20, 2013 | 04:48 PM | Lisa Gordon

Tags  metal recycler, Industrial Services of America, earnings report, Lisa Gordon

PITTSBURGH — Industrial Services of America Inc. (ISA) is struggling to restructure its debt to deal with pending covenant issues and its tentative financial health.

The Louisville, Ky.-based metal recycler posted a $1.2-million loss for the three months ended June 30, virtually unchanged from the second quarter in 2012 on revenue that fell 19.5 percent to $40.12 million. The loss included $609,000 in interest expense. Part of the interest paid was for long-term debt held by one financial institution.....

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