BLOOMINGTON, Ind. (AP) — An investment firm is the only
bidder to take over a southern Indiana company that supplied limestone to the
Empire State Building, the Pentagon and other iconic buildings.
A bankruptcy court auction for Indiana Limestone Co. was
called off after only a subsidiary of suburban Chicago firm Wynnchurch Capital
expressed interest in bidding.
The Herald-Times reports the firm now is in
line to buy the limestone company’s assets for $26 million. The company filed
for bankruptcy protection in February and notified state officials it would lay
off 166 workers from its Bloomington operations and Oolitic headquarters.
Indiana Limestone president Duffe Elkins said the business
is expected to reopen and rehire workers after the new ownership takes charge.
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