UPG Enterprises Files Chapter 11 to Pursue Free-and-Clear Asset Sales
Oak Brook – September 23, 2026 -- UPG Enterprises LLC has filed voluntary Chapter 11 petitions in the U.S. Bankruptcy Court for the Northern District of Illinois, securing up to $6.1 million in debtor-in-possession financing from Firehorse Capital LLC to fund continued operations during a court-supervised sale process.
UPG targets a 60-day sale timeline under Section 363 of the Bankruptcy Code
The industrial operator, which runs steel processing, manufacturing, distribution and logistics businesses across more than twenty North American locations, is marketing its assets to multiple interested parties and expects the Chapter 11 filing to attract additional bidders. Chief Restructuring Officer John Sordillo said the process is designed to maximize value through going-concern sales while preserving relationships with customers, employees and partners.