Amid bankruptcy, Tonawanda Coke still owes $2 million to community
Tonawanda Coke Corp. has filed for bankruptcy, just days after telling government regulators it planned to shut down its Town of Tonawanda facility following a long fight with them over emissions.
The Chapter 11 bankruptcy filing would allow the company to reorganize its operations, although Tonawanda Coke said in court documents that it does not expect to have enough money to repay any of its unsecured creditors.
The company said it had between $10 million and $50 million in assets, along with a similar amount of liabilities.
Meanwhile, the last of the 30 coke ovens that were in operation at the site were shut down on Monday, the state Department of Environmental Conservation said. Workers will continue purging the site's extensive system of gas lines and cooling its battery ovens throughout the week, the agency said.
Read more: https://buffalonews.com/2018/10/16/tonawanda-coke-files-for-bankruptcy/