A. M. Castle & Co., Franklin Park, IL, a global distributor of specialty metal and plastic products, has commenced voluntary Chapter 11 reorganization proceedings with the U.S. Bankruptcy Court for the District of Delaware.
As previously reported, the company solicited votes from creditors on a proposed prepackaged joint Chapter 11 filing; 98.3 percent voted in favor of the plan.
“This filing testifies to the support of our secured creditors and is the next critical step in returning A. M. Castle to industry leadership," said President and CEO Steve Scheinkman. "Our creditors’ overwhelming approval of the Plan demonstrates their belief this is the right path forward for Castle."
