PITTSBURGH Fort Worth, Texas-based scrap metal recycler Industrial Scrap Materials Inc. has filed for Chapter 11 bankruptcy protection.
Industrial Scrap Materials listed assets of $449,259 and total liabilities of $218,559 in documents filed in U.S. Bankruptcy Court in Texas.
Creditors listed in the filing include the Internal Revenue Service, the Tarrant County Taxing Authority, the Office of the U.S. Trustee and the Texas Commission on Environmental Quality.
A meeting of creditors has been set for June 17 and the company must file its reorganization plan by Aug. 21.
Neither president Joseph White nor principal J.D. White could be reached for comment.