CompanyNews  
Banner Glass Assets Auctioned  
After Bankruptcy Filing  
mployee-owned Banner Glass, Other top unsecured creditors  
which has eight locations covering included:  
Maryland and Northern Virginia, Glass Distributors Inc.: $89,717  
shut its doors in July. In September, the Pilkington North America: $88,531  
company had filed for Chapter 11 bank- Pittsburgh Glass Works: $35,739  
ruptcy in the U.S. Federal District Court Benefitmall: $34,248  
of Maryland. Its assets were auctioned Bank of America: $29,559  
via Tiger Capital Group’s Commercial Trulite Glass and Aluminum  
date, the debtor experienced signifi-  
cant financial issues,” according to the  
court filing.“As a result, the debtor was  
unable to continue to pay wages, sup-  
pliers and vendors and consequently,  
unable to continue as a going concern.  
The debtor, in its business judgment,  
determined that it was in the best in-  
terests of its estate, creditors and par-  
ties-in-interest to liquidate … assets  
and wind-down [its] affairs in an or-  
derly process under Chapter 11 of the  
Bankruptcy Code.”  
E
and Industrial division.  
Solutions: $13,817  
The company had between 200-999 Cardinal Shower Enclosures:  
creditors and assets of an estimated  
$12,897  
500,001 to $1 million,according to the Linton Shafer Warfield & Garrett,  
P.A.: $12,300  
$
bankruptcy filing.Its liabilities are esti-  
mated to be the same as the company’s Scott M. Gourley: $12,116 (wages)  
Banner Glass was a prototype em-  
ployee owned (ESOP) company with a  
“Prior to the bankruptcy petition 60-year history.  
assets. Banner Glass owed $74,590 for Suntrust Bank: $10,055  
leases, according to the filing.  
ouisville LPPlatGe Holds Ribbon-Cutting Ceremony  
also be relocated into  
Glass Co. (LPG)  
has opened a new  
the new plant.  
L
“We are really excited  
to partner with Aldora  
and to provide our cus-  
tomers with added prod-  
ucts and services,” says  
Bill Stone, LPG presi-  
dent. “Our business  
has grown substantially,  
so the timing of the  
transaction along with  
the new facility couldn’t  
have been better.”  
fabrication facility. The  
company was acquired  
by Aldora Aluminum  
and Glass Products  
earlier this year and as  
part of the transition,  
LPG re-located to a new,  
6
0,000-square-foot  
manufacturing facility,  
providing the company  
more space for its tem-  
pering capabilities.  
Senate  
Majority  
LPG will now provide From left to right: Bill Stone, LPG president; Mitch McConnell, Senate Leader Mitch McConnell  
tempered glass, fab- Majority Leader; Leon Silverstein, CEO of Aldora Aluminum and Glass joined Stone and Aldora  
ricated shower enclo- Products; and David Yates, president of Louisville Metro Council CEO Leon Silverstein for  
sures and fabricated participated in the ribbon-cutting ceremony for LPG’s new facility.  
the ribbon-cutting.  
glass in addition to its  
LPG’s customers and  
current line of IG units, OpaciCoat, Glass/HHH Tempering Furnace with dignitaries, including Louisville Metro  
laminated glass and stock sheet glass 96-by-196-inch capacity, jumbo cut- Council president David Yates, also  
and mirror distribution.  
ting table, glass polisher and water toured the plant to learn about each  
The new facility houses a North- jet. An upgraded residential IG line will department of the facility. n  
20  
USGlass, Metal & Glazing | November 2016  
www.usglassmag.com