Montgomery-based Lyon Workspace Products, which employs more than 400 local workers, has filed for Chapter 11 bankruptcy, according to a report in the Aurora Beacon News.
What the bankruptcy means for the company’s workers is unclear. According to the Beacon report, the company filed a Worker Adjustment and Retraining Notification Act or, or Warn with the state, which is required of all companies that may layoff 100 or more employees.
However, the report also states that the company may be looking for a buyer, which may determine to keep the Montgomery operation.
Lyon Workspace Products, formerly Lyon Metallic and then Lyon Metal, began as a manufacturer of sheet metal products in 1901. Now, Lyon is considered a “leading manufacturer and supplier of top quality lockers, industrial storage and workspace products,” according to its website.
from August of 2012, a company spokeswoman said, “we’ve had a lot of success in this location.”
Lyon has distribution centers in Dallas, Los Angeles and Philadelphia.