CHICAGO Bar Steel Service Inc.s assets are being auctioned after the company filed for Chapter 7 bankruptcy liquidation in October.
The Sacramento, Calif.-based reinforcing steel fabrication and installation company listed its assets at between $100,001 and $500,000 and its liabilities at between $1 million and $10 million, according to documents filed in U.S. Bankruptcy Court in California and signed by company president Matthew D. Kramer.
Among Bar Steel Services unsecured creditors were steel suppliers, including McMinnville, Ore.-based Cascade Steel Rolling Mills Inc., owed $35,600; and Tampa, Fla.-based Gerdau Long Steel North America, owed $80,394.
"Bar Steel Service has closed its doors and gone out of business. We would like to thank our customers, contractors and vendors for the last 39 years," according to the companys website.
Separately, Los Angeles-based Tiger Remarketing Services LLC said Wednesday that one of its divisions would be conducting an auction of Bar Steels assets. Among those assets are trucks, metal fabrication equipment and an overhead crane.
Bidding is under way, with a live auction slated for 10:30 a.m. Dec. 11, Tiger Remarketing said.