CHICAGO JIT Steel Service Inc. has filed a breach-of-contract lawsuit against Spig Industry LLC, a manufacturer of guardrails and other finished steel products, alleging that Spig failed to pay more than $122,000 in outstanding invoices.
Bristol, Va.-based Spig, a manufacturer of guardrails and other finished steel products, ordered steel from distributor JIT on multiple occasions in 2011, according to the complaint filed in U.S. District Court in Illinois. Elk Grove Village, Ill.-based JIT shipped the products and provided Spig with at least eight separate invoices totaling $122,089, but hadnt been paid as of April 15, according to court documents.
Last November, JIT and Spig signed a promissory note in order to start monthly payments for the outstanding amounts due, but Spig failed to make any payments to JIT on that note, the lawsuit alleged.
JIT alleges that Spig has breached its promissory note and has caused injury as a result, and has asked the court to grant judgment in its favor and against Spig for the amount owed.
A co-owner of Spig didnt return a call seeking comment.