RG Steel Wheeling's local steel mills are again heading into federal bankruptcy court and, as happened twice before under former owners, owners are asking the court for protection and the opportunity to reorganize.
Initial rumors circulated as recently as Wednesday hinted the filing, if it came, would have been for liquidation not reorganization.
Officials with the federal bankruptcy court confirmed today several filings were made for the businesses and they were requesting Chapter 11 reorganization status.
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T-L Photo/KIM LOCCISANO
RG Steel in Wheeling, WV has filed for Chapter 11 bankruptcy.
Among the entities named as entering bankruptcy status are Ohio Valley mills, and those in Warren, Ohio and in Sparrows Point, Maryland.
The privately held companies are owned by New York based billionaire Ira Rennert
There was no obvious mention of either local joint ventures involving RG Steel in the filings. Those joint ventures are Mountain State Carbon and the Ohio Coatings Corporation. The cases have been assigned to Judge Kevin Carey.
Loccisano can be reached at kimfromthetl@gmail.com
