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."