Weld Wheel seeks bankruptcy
Weld Wheel seeks bankruptcy, plans to sell assets By DAN MARGOLIES The Kansas City Star Weld Wheel Industries, a Kansas City maker of high-performance automotive wheels, filed for Chapter 11 bankruptcy protection this morning and plans to sell its assets. The 21-year-old, family-owned business said it lost $1.1 million in the first six months of this year on net sales of $21.8 million. The abbreviated bankruptcy petition did not break down Weld Wheel’s debts, but said that the company has total assets of $31.6 million. The bankruptcy documents stated that Weld Wheels has signed an asset-sale agreement with American Racing Equipment Inc. in southern California. Terms of the sale were not listed. |
All times are GMT -4. The time now is 12:35 AM. |
© 2024 MH Sub I, LLC dba Internet Brands