Tagged: Berlin

At an auction today/Wednesday in Manchester an Ohio company made the highest bid for the bankrupt Isaacson Steel. NHPR’s Chris Jensen reports.

Last year Isaacson filed for bankruptcy leaving the future of about 150 North-Country workers in doubt.

Earlier this year a Whitefield firm bought a small portion of the business, an action expected to save about 20 jobs. But the larger portion was auctioned off.

William Gannon. represents Isaacson.

Hopes that someone would buy bankrupt Isaacson Steel in Berlin and continue the business are fading. NHPR’s Chris Jensen reports.

Throughout Isaacson’s bankruptcy the hope has been that someone would buy the steel-fabricating firm, operate it and save about 130 jobs.

That seems less likely now.

A filing in federal district court Monday shows a Texas firm that specializes in selling off industrial equipment has a tentative deal to buy Isaacson’s assets.

The Federal Correctional Institute in Berlin probably won’t get its first inmates for about a year but it has begun hiring, says Deborah Schult, the warden.

“Right now our major focus is staffing, staffing, staffing,” Schult said Friday night at the Androscoggin Valley Chamber of Commerce Annual Dinner in Gorham.

The prison had been empty while awaiting funding from Congress, which came late last year.

“Last year we had 16 of us on site. Now we have hired 32,” she said.

New Hampshire Business Review is reporting that a potential buyer for the Isaacson Structural Steel in Berlin has fallen through.

The review reports Heico, a construction conglomerate, was seriously considering buying the company but has since backed out.

An auction is currently set for February 29th, raising a question about the future of the company’s roughly 150 employees.

Congressman Charlie Bass will hold a town meeting in Berlin Saturday, February 11th, from 11 a.m. to noon in Berlin’s City Hall.

“Constituents with questions, comments, or those in need of assistance on a federal matter are welcome to attend,” according to a news release from Bass’ office.

A Chicago-based company – The Heico Companies - is interested in buying Isaacson Steel in Berlin, which is undergoing bankruptcy, the New Hampshire Business Review is reporting today.

The Business Review quoted “several parties involved with the bankruptcy,” as the source.