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Article: West Virginia Steel Drum Manufacturer Plans Bankruptcy Filing.
- Article from:
- Knight Ridder/Tribune Business News
- Article date:
- September 28, 2001
CopyrightCOPYRIGHT 2001 Knight-Ridder/Tribune Business News. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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By Jim Balow, The Charleston Gazette, W.Va. Knight Ridder/Tribune Business News
Sep. 28--A steel drum manufacturer near Nitro closed its doors on Sept. 21 and laid off 47 workers and now plans to file for bankruptcy, possibly today, plant workers said Thursday.
Republic Container Co., an employee-owned company that made steel drums for chemical firms like Union Carbide and FMC, has been struggling to get out of debt for several years, said machinist John McCoy.
"The board finally met two weeks ago and said they can't see any hope of coming out and would file for Chapter 7 [bankruptcy] and Friday would be our last day, " McCoy said.
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