Brightmark remains committed to the Ashley community with renewed focus on facility’s performance and operations
- The United States Bankruptcy Court for the District of Delaware confirmed that a Brightmark LLC subsidiary was the winning bid to retain its Ashley, Indiana, facility.
- With the retention, Brightmark will continue to enhance the facility’s operations and performance.
- Brightmark is focused on future opportunities in Ashley and the development of the state-of-the-art, flagship circularity center in Thomaston, GA.
The United States Bankruptcy Court for the District of Delaware has confirmed that a subsidiary of Brightmark LLC, a circular innovations company with a mission to Reimagine Waste®, was the winning bidder to retain its Ashley, Indiana, facility.
Subsidiaries of Brightmark LLC related to the Ashley, Indiana, facility filed voluntary petitions under Chapter 11 of the Bankruptcy Code in March. During the bankruptcy process, Brightmark remained the owner, all employees were retained, and the facility continued production throughout. Brightmark was transparent from the beginning of the bankruptcy filing that this process was necessary for Brightmark to take control of its future and ensure the long-term viability of the Ashley facility.
Following a competitive auction process, the judge found that Brightmark’s bid for the facility was the best and would bring value to all stakeholders, including employees and the community at large.
With the retention, Brightmark will enhance the facility’s operations and performance, including new operational leadership, and will continue to work closely with the Ashley community.
“We believe in our plastics business and providing a viable, circular recycling solution for post-use plastic while working to solve waste challenges at scale,” said Bob Powell, founder and CEO of Brightmark. “The retention of the Ashley facility is an important step in accomplishing our mission.”
