Hours after announcing the company would be sold to a downstate New York firm, Auburn Armature filed for Chapter 11 bankruptcy in federal court, documents show.
The court papers detail Auburn Armature’s assets, liabilities and the proposed sale to AAI Acquisition, a limited liability corporation established by New Hyde Park-based Power-Flo Technologies.
Power-Flo Technologies, which owns several electrical and plumbing equipment distributors, is expected to finalize the acquisition of Auburn Armature, an electrical equipment distribution company, within the next 60 days. But the bankruptcy filing adds another layer to the transaction.
