Novi, Michigan-based Lee Steel Corp. announced Friday that it has filed Chapter 11 bankruptcy protection this week. The company owes creditors between $50 million and $100 million to fewer than 200 creditors.
Less than two years ago, Lee Steel moved into an expanded $26 million, 250,000-square-foot facility in Romulus, Michigan, and opened a 120,000-square-foot plant near Grand Rapids, Wyoming.
Lee Steel employs 65 workers at both facilities.