Wisconsin foundry Neenah Enterprises, a supplier to cities, files for Chapter 11 protection

Century-old foundry seeks bankruptcy protection

WILMINGTON, Del. — Neenah Enterprises, one of the largest independent foundries in the country, is filing for Chapter 11 bankruptcy protection.

The Wisconsin company traces its roots back to 1872 and makes manhole covers, sewer grates, bridge parts and other iron products that cities need.

Neenah listed assets of about $286 million and total debt of about $449 million in a filing submitted Wednesday.

The company says it has arranged $140 million in debtor-in-possession financing from lenders and senior note holders.

The company also said it has reached an agreement in principle with key creditors on a reorganization plan that would reduce its debt by about $220 million while providing full recovery to suppliers and vendors.