Arch Aluminum And Glass Files Chapter 11

Date: 1 December 2009
Source: Bizjournals.com

Date: 1 December 2009

The decline of the construction market has taken another South Florida company into bankruptcy. But, Arch Aluminum and Glass, which filed for Chapter 11 bankruptcy protection on Nov. 25, said Monday it has already reached an agreement to sell its assets and reorganize debt.

Arch is a large construction supply company with 28 facilities in 17 states.The company said in a news release it would sell all assets to an affiliate of Grey Mountain Partners LLC (“GMP”), a leading private equity firm in Boulder, Colo. The company said it would seek approval for an expedited auction process with the GMP agreement as a so-called “stalking horse” bid, but it did not immediately disclose the bid amount.
 
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