CHICAGO Mid-GA Steel & Supply Inc., a manufacturer of steel roofing and steel buildings, has filed a Chapter 7 bankruptcy liquidation petition in U.S. Bankruptcy Court in northern Georgia.
The Grantville, Ga.-based company estimated its assets at between $500,000 and $1 million and liabilities of between $1 million and $10 million, with unsecured creditors holding claims of more than $1.9 million, according to the Dec. 14 filing.
Approximately one dozen metals suppliers have unsecured claims totaling more than $400,000. The largest among them is Alliance Metal Products Inc., Birmingham, Ala., with a claim of $284,962. Other creditors cited in the filing include Mill Steel Co., Detroit; United Steel Supply LLC, Austin, Texas; Sheffield Metals International Inc., Sheffield Village, Ohio; and Cooksey Steel Co. Inc., Tifton, Ga.
The company was established in 2000 by Clay Smith, who opened two more locations in Cochran and Dublin, Ga., in 2002 and 2010, respectively, according to Mid-GA Steels website.
Mid-GA Steel appears to be the latest in a recent rash of bankruptcy filings by small metals companies, including Austin, Texas-based distributor Urban Steel LLC (amm.com, Dec. 13); Vulcan Steel Co., a Jacksonville, Fla.-based structural steel fabricator (amm.com, Dec. 12); Midstate Steel Inc., a Millbrook, Ala.-based structural steel fabricator; and SMC Steel Fabricators Inc., a Spartanburg, S.C.-based fabricator of sheet metal and light plate products (amm.com, Dec. 7).