Lyman Lumber To Sell Assets After Ch. 11 Filing

Law360, New York (August 5, 2011, 2:51 PM EDT) -- Lyman Lumber Co. on Friday announced it had agreed to sell its Midwestern assets to an affiliate of Steel Partners Holdings LP under a Chapter 11 bankruptcy proceeding for an unspecified amount.

The announcement came one day after Lyman, the largest supplier of lumber, building materials and job-site labor for residential construction in the Midwest, filed for bankruptcy protection in Minnesota.

“We are very excited about the prospect of working with a strong and credible financial partner. The sale would allow Lyman to continue to provide...
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