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.
Financing combines new DIP capital with operating cash flow
Beyond the $6.1 million Firehorse Capital facility, subject to court approval, UPG's operating subsidiaries will continue using internally generated cash to fund day-to-day operations. The company has also filed customary "First Day" motions to maintain wages, employee benefits, and commitments to customers and vendors throughout the proceedings.
International operations and UPG Electrical remain outside the restructuring
The Chapter 11 cases apply solely to certain U.S. operations. UPG's international business and UPG Electrical and its subsidiaries are excluded from the court-supervised process and will continue operating without interruption.
Advisory team includes SC&H Capital, Glass Ratner and Morris, Nichols, Arsht & Tunnell
UPG is advised by SC&H Capital as investment banker, Glass Ratner as financial advisor, Morris, Nichols, Arsht & Tunnell LLP as legal counsel, and Teneo as strategic communications advisor. The filing follows a pre-petition marketing process conducted with external advisors before the decision to pursue sales through Chapter 11. Epiq is serving as the company's claims and noticing agent for stakeholder inquiries.