Английская Википедия:Highway Technologies
Шаблон:Use American English Шаблон:Use mdy dates Highway Technologies, Inc. was a large, Houston-based[1] US construction company with offices in 33 cities[2] that filed for bankruptcy in May 2013, laying off 740 of its 825 employees.[3] The company was founded 30 years ago.Шаблон:When[4]
The company supplied "highway barriers, traffic control devices and rent[ed] barriers for detours and emergency closures".[4]
Liquidation of company assets began in June 2013[5] and continued through November 2013,[6] with some local branches sold in their entirety to new owners.
Locations
The company operated in over 30 US cities,[7][8] with as many as 50 to 80 employees at some locations:[1]
- Flagstaff, Arizona
- Fort Mohave, Arizona
- Prescott, Arizona (reopened as part of Trafficade Work Zone Services)
- Tempe, Arizona
- Tucson, Arizona
- San Jose, California
- Ventura, California
- Denver, Colorado, reopened as Colorado Barricade in August 2013.[9]
- Loveland, Colorado
- Clearwater, Florida
- Fort Myers, Florida
- Jacksonville, Florida
- Jupiter, Florida
- Orlando, Florida
- Bloomington, Illinois
- Carbondale, Illinois
- East St. Louis, Illinois, reopened as Warning Lites of Southern Illinois, LLC in August 2013
- Springfield, Illinois
- Villa Park, Illinois
- Baton Rouge, Louisiana
- Minneapolis, Minnesota
- Springfield, Missouri
- Missoula, Montana
- Richland, New Jersey
- North Las Vegas, Nevada
- Portland, Oregon
- Austin, Texas
- Corpus Christi, Texas
- Fort Worth, Texas
- Houston, Texas
- San Antonio, Texas
Company bankruptcy
The Houston-based company laid off 740 employees, of 825 total, on May 17, 2013, and filed for bankruptcy on May 22.[1] The bankruptcy filing indicated that company assets were between $50 and $100 million while liabilities were between $100 and $500 million.[5]
Disruptions
Event disruptions occurred as a result of the suspension of operations in a number of cities. In Denver, the Colfax Marathon and the American Ninja Warrior competition lost the contracted support services for the provision of traffic barricades for the event.[2] Fifteen active projects were shut down in Montana by the closure of the Missoula office, where 180 employees lost their jobs.[10][11]
Liquidation
"Bankruptcy was seen as the best option to protect the company's assets for its creditors".[1] At the May 23, 2013, bankruptcy court hearing, approval was given "to start to sell any assets below $200,000. The company pursued the sale of its assets both piecemeal and on a turnkey — intact branches — basis through private sales and auctions"[1][12]
Some Highway Technologies local enterprises were sold in their entirety to new owners.[12] In early August, the Denver branch emerged from bankruptcy as Colorado Barricade, sold at a price of Шаблон:USD plus assumption of certain liabilities pertaining solely to the existing operation, and hired back some 20 of the 50-plus employees of Highway Technologies Denver operation within the first week of operation.[9]
Over 60,000 remaining assets were sold off in auctions held between August and November 2013,[6] including 4700 items sold at one two-day auction in Texas in late August.[13]
References
- ↑ 1,0 1,1 1,2 1,3 1,4 Highway Technologies' abrupt bankruptcy affects 740 employees nationwide, May 28, 2013, Houston Business Journal.
- ↑ 2,0 2,1 Traffic-barrier company closes its doors day before Colfax Marathon, May 18, 2013, Denver Post.
- ↑ Construction supply company closes doors, lays off 740, May 28, 2013, Houston Chronicle.
- ↑ 4,0 4,1 Шаблон:Cite web
- ↑ 5,0 5,1 Шаблон:Cite web
- ↑ 6,0 6,1 Шаблон:Cite web
- ↑ Шаблон:Cite web
- ↑ Highway Technologies Private Treaty Sale
- ↑ 9,0 9,1 Шаблон:Cite news
- ↑ Шаблон:Cite news
- ↑ Шаблон:Cite web
- ↑ 12,0 12,1 Шаблон:Cite news
- ↑ Шаблон:Cite web
- Английская Википедия
- Construction and civil engineering companies of the United States
- Defunct construction and civil engineering companies
- Construction and civil engineering companies disestablished in 2013
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