Isaacson Steel

North Country
1:45 pm
Wed March 7, 2012

Isaacson Steel Laying Off Workers

After Isaacson Structural Steel was sold off in a bankruptcy auction last month it wasn’t certain what would happen to the employees. But NHPR’s Chris Jensen reports it’s clear now and the news is not good.

In a blow to the North Country more workers at Isaacson Structural Steel in Berlin are being laid off.

About 80 have already lost their jobs with another 40 still on the job finishing up a project, says Diana Nelson with New Hampshire Employment Security.

“There will be a handful of employees at Isaacson’s through mid-April.”

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North Country
12:09 pm
Wed March 7, 2012

Isaacson Steel Bankruptcy Lawyer's Bill Totals $313,000

The Manchester lawyer who handled the bankruptcy of Isaacson Structural Steel in Berlin will receive about $313,000 for his work if a federal judge approves.

In a recent filing William Gannon asked the judge for $191,000 for his work between September 1st and February 29th.

Previously the judge approved about $122,000 for work between June 22ndand August 31.

In the filing Gannon said he worked about 444 hours at $400 an hour in addition to work done by his staff.

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North Country
12:08 pm
Fri March 2, 2012

Court Report Details Isaacson Auction

There were three bidders hoping to buy Isaacson Structural Steel with a $100,000 difference determining the winning bid, according to a report filed Thursday in federal district court in Concord.

The top bid was $2.4 million by Counsel RB Capital, Myron Bowling Auctioneers and Hilco Industrial.

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North Country
4:01 pm
Wed February 29, 2012

Industrial Auction Firm Highest Bidder for Isaacson Steel

Chris Jensen for NHPR

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.

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North Country
5:55 pm
Mon February 27, 2012

Hopes For Saving Isaacson Steel Jobs in Berlin Fading

Chris Jensen for NHPR

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.

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.

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North Country
10:21 am
Tue February 14, 2012

Report: Buyer for Isaacson Falls Through

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.

North Country
11:12 am
Wed February 1, 2012

Report: Chicago Firm Interested In Isaacson Steel

Chris Jensen for NHPR

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.

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North Country
3:31 pm
Tue January 24, 2012

Whitefield Company Wants To Buy Part of Isaacson Steel

David Presby, the owner of Presby Environmental, formed Presby Steel late in December.
Chris Jensen for NHPR

A Whitefield firm wants to buy part of Isaacson Steel in Berlin and hopes to save those jobs. NHPR’s Chris Jensen reports.

Last year Isaacson Steel in Berlin filed for chapter 11 bankruptcy.

The company has about 150 employees in two operations.

One does steel fabrication for buildings.

The other, much smaller operation, sells steel. It has 19 employees.

The smaller operation is what Presby Steel of Whitefield wants to buy.

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