Sparrows Point auction still set for Tuesday — apparently

As of Monday evening, auction had not been delayed again

August 06, 2012|By Jamie Smith Hopkins, The Baltimore Sun

An auction for RG Steel's Sparrows Point mill, delayed last week, remains scheduled for Tuesday — at least as of early Monday evening.

No announcement changing the time of the auction — or naming a lead, "stalking horse bidder" — was on the bankruptcy court's docket as of 6 p.m. Monday. The auction, originally set for a week earlier, was postponed at the last minute, reportedly to allow the company more time to find such a bidder.

RG Steel also plans to auction off its assets in Warren, Ohio on Tuesday. Both sales are scheduled for 10 a.m. in New York.

The company filed for bankruptcy protection in May. Nearly 2,000 employees have been laid off from the Sparrows Point mill as RG Steel idled it and sought buyers.

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