John Lane Named Receiver for Arrow Machine Company
John Lane of Inglewood has been appointed receiver for Arrow Machine Company, Ltd., a $15 million manufacturer, and will run the business until a buyer is found.
John Lane of Inglewood has been appointed receiver for the assets of Arrow Machine Company, Ltd. under a court-ordered receivership, taking complete control of the company's assets and operations.
Arrow Machine is a $15 million revenue manufacturer of screw machine, HydroMat and CNC parts for the automotive and other industries. After the loss of a major customer, the company was unable to adequately cut costs or increase revenues to compensate, and ultimately agreed to be placed under receivership.
Under the receivership order, Inglewood will operate the business until a buyer can be found, working to preserve value and continuity through the sale process.
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