PITTSBURGH Runions Recycling Inc., a metals recycling operation that closed after filing for bankruptcy in August, will reopen under a new owner in January.
Danny Meeks has purchased the majority of the assets of the Roseboro, N.C.-based company, which liquidated under Chapter 7 bankruptcy, according to court documents.
Meeks, who owns Suffolk, Va.-based Empire Metal Corp. and earlier this year purchased an auto shredder from a North Carolina recycler (amm.com, April 25), couldnt be reached for comment. The latest purchase gives Meeks 10 yards in North Carolina and Virginia.
Douglas Runion, who owned the bankrupt company, confirmed that he is helping to reopen the yard and is now an employee of Meeks.
The 87-acre yard specialized in purchasing vehicles and has scales, containers, car crushers and other equipment on site.
Runion was forced into bankruptcy after selling the yard (amm.com, Aug. 15). The purchaser never made payments on the yard, sold off the entire inventory, which included at least 2,000 cars, and disappeared.
Runion took over the scrapyard at that time but it soon folded. Runion has a $5.4-million judgment against the purchaser.
"I try to roll with the punches, but I cant say it doesnt still hurt because it does," Runion said. "I lost everything, but my main concern is that I can take care of my family."