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February 14. 2012 10:34PM

Auction nears for NH steel company

MANCHESTER — A bankruptcy auction for qualified bidders to purchase all or part of the Isaacson Structural Steel business in Berlin will be held in Manchester on Wednesday, Feb. 29.

The private auction will take place at 10 a.m. at the law offices of Nixon Peabody PLLP, 900 Elm St., Manchester.

“Our goal is to get the best possible buyer,” attorney William Gannon, who represents Isaacson Structural Steel, said Tuesday.

The proposed sale includes purchase or long-term lease of land, building and fixtures at 40 Jericho Road, Berlin; Isaacson Steel's equipment, inventory, customers lists, intellectual property, trademarks and proprietary information; and use of a plasma burning table owned by the former Isaacson Steel, now Presby Steel.

Hearings on two other matters involving the bankruptcy, a bonus program and a wind down budget, were continued Tuesday to Feb. 21 at the U.S. Bankruptcy Court in Manchester.

Key dates for the Jericho Road property auction are:

Feb. 22: Deadline for bids to be submitted.

Feb. 29: Auction, in Manchester.

March 1: Deadline for Isaacson Steel to file a motion for approval of full or partial sale of assets.

March 6: Deadline for sale objections.

March 7: Deadline for objections to motions for assignment of contracts to a successful bidder.

For more information, interested parties may send an email to Jeanne Arquette-Kohler at Jarquette@gannonlawfirm.com or Whitney George of General Capital Partners at wcg@generalcapitalpartners.com.



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