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Instaset Plastics Co. LLC is running out of cash and aiming to secure another loan from a creditor to keep operations going until it is taken over by Holland, Mich.-based Clarion Technologies Inc. The process, known as a 363 sale, is expected to be complete by Oct. 31.
Instaset Plastics Co. LLC is running out of cash and aiming to secure another loan from a creditor to keep operations going until it is taken over by Holland, Mich.-based Clarion Technologies Inc. The process, known as a 363 sale, is expected to be complete by Oct. 31.
Ira Township-based Instaset Plastics Co. LLC has filed for bankruptcy in a bid to stay afloat long enough to be sold to an injection molding company on the west side of the state.
The automotive plastics supplier, whose revenue has been hollowed out by a host of supply chain problems, is seeking…