Freedom Industries Winding Down Operations
The company at the center of West Virginia's chemical spill is selling the rest of its chemicals, helping employees find new jobs and winding down operations.
Saying the small company's problems exceed its size, attorney Mark Freedlander announced Freedom Industries' plans in federal bankruptcy court Friday. The company won't use up to $4 million the court had permitted Freedom to borrow to keep running.
Freedom's plan until March 18 is to sell all its chemicals and collect on payments it's owed to pay for environmental remediation. Freedlander said the costs haven't been determined. Freedom has to dismantle its tanks in Charleston starting March 15.
The company's Jan. 9 spill contaminated the water for 300,000 people for days.
Lawsuits against Freedom by businesses and individuals remain on hold during bankruptcy proceedings.