Hearing today in Denman bankruptcy

By William K. ALCORN

alcorn@vindy.com

YOUNGSTOWN

A hearing was scheduled for 9:30 a.m. today in U.S. Bankruptcy Court related to the sale of bankrupt Denman Tire’s patents and recipes.

But in the meantime, a possible new suitor for Denman has surfaced, according to Tire Business News Minute, which reported that GCA Tire is preparing to bid $2.5 million for some Denman assets and plans to restart the company.

The 91-year-old tire manufacturer, located in Leavittsburg, filed for Chapter 7 bankruptcy in March. Chapter 7 involves liquidation of assets rather than reorganization. Denman shut down its plant in February, leaving some 250 employees out of work.

According to court records, GCA is represented by Atty. Joseph Bishara of Roth, Blair, Roberts, Strasfeld & Lodge in Youngstown.

The court-appointed trustee in the case, Richard Zellers of Canfield, has recommended the court authorize the sale of the Denman brand inventory, the company’s brands and trademarks, and any product that Denman made for InterCo Tire Corp.