YOUNGSTOWN, Ohio (June 4, 2010)—Phoenix Management Services Inc. of Chadds Ford, Pa., is liquidating bankrupt Denman Tire L.L.C.'s remaining assets and has set a deadline of 5 p.m. June 16 for written offers.
The winning bid or bids will be disclosed at a June 17 court hearing at the U.S. Bankruptcy Court, Northern District of Ohio, Eastern Division, in Youngstown, according to Richard Szekelyi at Phoenix Management.
The assets include: tire manufacturing equipment and machinery, transformers, some raw materials and other “tangible and intangible property. The factory building and property are not part of this bid process, Szekelyi said.
Excluded are assets previously sold, including molds and related hardware, certain drums and intellectual property rights acquired in May by Titan Tire Corp.
Individuals interested in bidding should contact Szekelyi at 216-832-6977 or [email protected]
Denman Tire filed for bankruptcy March 16; the court accepted Titan's $4.4 million bid for the assets described above on May 19.