Tennessee company buys assets of bankrupt Mississippi crane firm
A Tennessee company is buying most of the assets of a bankrupt Mississippi crane company.
Barnhart Crane and Rigging Company of Memphis, Tennessee, announced that it has purchased most of Columbus-based Burkhalter Rigging.
Bankruptcy court documents reflect Barnhart paid $13.8 million, plus certain assumed costs.
The sale closed May 31.
Burkhalter had filed for Chapter 11 bankruptcy reorganization in January in Texas.
The company said then that a failure to make loan payments forced it to sell crucial equipment, further hurting its business.
The Commercial Dispatch reports that Barnhart will keep about 40 employees in Columbus, including branch manager Brooke Burkhalter.
Burkhalter specialized in moving heavy equipment for petrochemical, power, civil and marine industries worldwide. It has facilities in Columbus and Texas.
Barnhart has more than 50 locations nationwide.
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