The parent company of Columbus Castings has filed for Chapter 11 bankruptcy protection. But New York-based Stellex Capital Management has sent a letter of intent to purchase the South Side foundary that recently laid off dozens of workers due to a decline in business. The firm wants to continue operations with upgraded equipment, if the purchase goes through. Sources have told WCBE some Stellex executives are in town to prepare for a possible sale.
Columbus Castings' Parent Files For Chapter 11; Possible Buyer Found
