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wiredInUSA - December 2015
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NYW Acquisition LLC, a Florida-based
limited liability company, could acquire
Wire Company Holdings, the owner of
New York Wire, which filed for Chapter 11
bankruptcy reorganization on 8
th
October.
The company would pay $8.1 million, or no
less than $7.3 million after any adjustments.
A report in the
Hanover Evening Sun
said
that NYW has filed an asset purchase
agreement in Delaware.
Wire Company Holdings, a maker of wire
products for the automotive, electronics
and communications industries, is said
to list over $12.2 million in outstanding
secured debt and in excess of $3.4 million
in other obligations.
Any sale of the company would require
the approval of the bankruptcy court
judge, Laurie Selber Silverstein, who is
presiding over the case. Potential buyers
had until 5pm on 30
th
November to make
a bid of at least $8.1 million with a deposit
of 10 percent.
If more than one qualified bid is made an
auction will be held, and Silverstein will
hold a hearing to approve a buyer.
Potential
buyer for
Wire Company