Wrena, LLC Initiates Chapter 11 Bankruptcy Sale Process

Wrena, LLC, an Ohio-based supplier of stamped metal products for the automotive industry, has announced the commencement of a Chapter 11 bankruptcy sale process under Section 363. Although profitable, Wrena is pursuing this strategy to address significant litigation-related liabilities and to maximize asset value through a structured sale. The company, which employs around 50 people, reported estimated revenues of $18.6 million for the fiscal year ending December 31, 2024.

The Bankruptcy Court approved a structured sale plan on October 28, 2024. Cascade Partners, LLC is handling the sale, which requires prospective bidders to meet strict criteria. Requirements include a signed asset purchase agreement with cash or assumption of liabilities, a 5% deposit, and proof of financial capability. Potential buyers must submit bids by December 6, 2024.

An initial bid of $5.65 million plus employee-related liabilities has been received. An auction, if necessary, will take place on December 10, 2024. The final approval is set for a Sale Hearing on December 16, 2024.