Court filings show the winner of the auction for Columbus Castings is Bridge Street LLC, a subsidiary of a New York firm called Reich Brothers Incorporated. The company says on its website it specializes in asset dispositions for companies undergoing structural changes. That means the south side foundary likely will not reopen, and its assets will be sold. The documents are not clear on that. They do show Reich Brothers paid 29.7 million dollars, well ahead of the next-highest bidder, New York-based Stellex Capital Management. That firm was in talks with the foundary's owners earlier this year, but a deal fell through. It wanted to reopen the facility. A federal bankruptcy court judge has scheduled a hearing on Tuesday. The documents show the auction was held Tuesday in New York, put on hold, and started again on Thursday. Parent company Constellation Enterprises filed for bankruptcy protection last May and laid off scores of workers.
Columbus Castings Sold To New York Firm At Auction
