DAYTON, Ohio (WDTN) – A new bidder for Standard Register emerged Monday during a sale auction.
A decision is expected tomorrow and it could strongly impact Dayton’s economy and put hundreds of local jobs at risk.
Earlier this year Standard Register filed for bankruptcy, owing millions of dollars. Since then they’ve had several bidders, which all have the option of moving the company someplace else.
The Dayton Business Journal is reporting that a “strategic buyer” outbid Silver Point Capital.
Silver Point bid $275-million. The company said it planned to keep operations running in Dayton.
The new buyer will need to be certified by the bankruptcy court, but industry insiders tell the journal that a different buyer would likely consolidate Standard Register operations into operations elsewhere, possibly losing 850 jobs here in Dayton.
The successful bidder is expected to be announced Wednesday by the U.S. Bankruptcy Court.
To read more about the purchase, visit the Dayton Business Journal on line.