UPG Enterprises LLC Files for Chapter 11 Bankruptcy Protection
News related to:UPG Enterprises LLC · 2 min read
OAK BROOK, Ill., Sept. 23, 2026 /CourierPR/ -- UPG Enterprises LLC, a diversified industrial company operating in steel processing and production, manufacturing, distribution, and logistics, has filed for voluntary Chapter 11 bankruptcy protection. The move aims to facilitate the sale of the company's assets and maximize value for all stakeholders. UPG has filed voluntary petitions to commence Chapter 11 proceedings in the U.S. Bankruptcy Court for the Northern District of Illinois. The company's global operations will continue without interruption during the Chapter 11 cases, with UPG's international operations and UPG Electrical and its subsidiaries remaining outside the Court-supervised restructuring process.
In addition to enabling a swift, orderly process that will provide interested parties the opportunity to submit higher and better offers, Chapter 11 will also allow UPG to access up to $6.1 million in debtor-in-possession financing from Firehorse Capital LLC to support the process, subject to Court approval. In addition, UPG's operating subsidiaries expect to continue to use cash generated by their businesses to fund continued operations.
The decision to pursue sales through Chapter 11 follows a thorough evaluation of strategic alternatives and a pre-petition marketing process conducted by UPG and its external advisors. The company will solicit competing bids from interested parties to achieve the highest and best value for UPG's assets. UPG intends to complete the sale processes within the next 60 days, subject to Court approval.
The company has filed certain customary "First Day" motions with the Court that will enable it to continue operating as usual throughout this process, including by providing wages and benefits to employees and meeting commitments to customers and vendors. Court filings and additional information related to the proceedings are available at https://dm.epiq11.com/UPG.
UPG is being 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 company operates at over twenty locations throughout North America and is focused on steel processing and production, manufacturing, distribution, and logistics.
The filing of the voluntary Chapter 11 petitions is part of a broader strategy to restructure the company's operations and ensure the continued viability of its core business segments. UPG's commitment to maintaining business relationships and continuing operations during the restructuring process underscores its dedication to preserving value for all stakeholders.