CHICAGO Two southern steel fabricators have filed for bankruptcy over the past week, according to court records.
Midstate Steel Inc., Millbrook, Ala., filed for Chapter 11 bankruptcy protection in U.S. Bankruptcy Court in Alabama on Dec. 5.
The structural steel fabricatora member of the American Institute of Steel Construction, according to its websitehas 50 to 99 creditors, less than $50,000 in assets and liabilities between $1 million and $10 million, according to court filings signed by company president John D. Hanners.
Midstates top unsecured creditors include metal suppliers and service providers such as Savannah, Ga.-based Chatham Steel Corp., part of Reliance Steel & Aluminum Co., Los Angeles, owed $170,268; Montgomery Industrial Gases Inc., Montgomery, Ala., owed $36,708; and Metal Benders Inc., Hope Hull, Ala., owed $21,362.
A meeting of creditors is scheduled to be held Jan. 15 in Montgomery, Ala.
Spartanburg, S.C.-based SMC Steel Fabricators Inc. filed for Chapter 7 bankruptcy liquidation the same day in U.S. Bankruptcy Court in South Carolina. The company has assets of between $50,001 and $100,000 and liabilities of $100,001 to $500,000, according to the filing signed by Charles K. Johnson, principal of the corporation.
SMC Steel Fabricators unsecured creditors include metals suppliers Crawford Metal Corp., Louisville, Ky., owed $22,914; Siskin Steel & Supply Co., a Chattanooga, Tenn., subsidiary of Reliance Steel & Aluminum, owed $17,189; and Chatham Steel, owed $15,121.
A meeting of creditors is slated for Jan. 23 in Spartanburg, S.C.