Metal Recycling Systems' assets for sale

May 28, 2014 | 01:42 PM | Lisa Gordon

Tags  shredder, scrap, Metal Recycling Systems, Robert Handler, Commercial Recovery Associates, asset sale, Irvine Investments, Scott Irvine Michael Irvine

PITTSBURGH — A Chicago-area metals recycler that closed its doors last month is auctioning off its assets and exiting the business.

Blue Island, Ill.-based Metal Recycling Systems Inc. stopped operating its aluminum shredder facility in April after facing financial struggles (, May 1).

The company has opted for a state-level dissolution, known as assignment for the benefit of creditors, instead of filing for bankruptcy liquidation, according to Robert P. Handler, managing director of Chicago-based Commercial Recovery Associates LLC.....

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