Reichhold seeks approval to sell Delaware property for $1.2 million

By Caroline Salls

Pittsburgh, Aug. 7 – Reichhold Holdings US, Inc. requested court approval of the $1.2 million sale of a surplus property in Cheswold, Del., to Michael Steiner, according to a motion filed Thursday with the U.S. Bankruptcy Court for the District of Delaware.

The company said the property is not used in the operation of its business, nor is it a revenue-producing asset.

The proposed sale will be private, according to the motion.

A hearing is scheduled for Aug. 27.

Reichhold supplies resins for the industrial, transportation, construction, marine, consumer and graphic arts markets. It is based in Durham, N.C. The company filed for bankruptcy on Sept. 30, 2014 under Chapter 11 case number 14-12237.

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