Denman Tire filed for bankruptcy today and plans to sell its plant and equipment to pay debts. The Leavittsburg-based company filed a Chapter 7 bankruptcy, which involves liquidation, not reorganization. The filing was made in U.S. Bankruptcy Court in Youngstown. The 91-year-old tire manufacturer already has shut down its plant, leaving 260 people out of work. The company operates one tire plant in Leavittsburg, Ohio with 2,600 u/d of capacity mainly for ag, industrial, and OTR tires.
Here is a good article from July 2009 from Rubber & Plastics News detailing the company’s struggles in the current economy.
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