Michael S. Polsky
(414) 390-5935
Receivership Process Positions Portage Company for New Ownership and Future Growth
PORTAGE, Wis. – The Columbia County Circuit Court today appointed Michael S. Polsky, Esq., of Beck, Chaet, Bamberger & Polsky, S.C. in Milwaukee, as the Receiver for Lexington Logistics, LLC, which does business as TriEnda. The Portage-based company manufactures heavy-gauge single and twin sheet thermoformed plastic pallets and shipping containers for the material handling and packaging industry. Polsky, who was appointed under Chapter 128 of the Wisconsin Statutes, said the receivership process will allow the business to continue operating with its current 137 employees and provide quality products to its many customers worldwide.
“TriEnda has been a part of the Portage community for 39 years, and this move keeps the company on course to further preserve and strengthen its core business,” said Polsky. “Most importantly, no layoffs, reductions in workforce, or changes in employment status are anticipated. We have a financing agreement in place with the company’s lender that allows all operations to continue and to fulfill all obligations to customers. Product orders will proceed and TriEnda’s customers and vendors will continue to experience the same high level of quality and service.”
Polsky said the lender is fully prepared to fund operations during the receivership including payroll, materials purchases and necessary operating expenses. The receivership will allow potential buyers to submit bids for TriEnda, and Polsky is working with other professionals regarding sale procedures. Polsky believes that a buyer will hire substantially all current employees and continue operations in Portage. For more information, interested parties can contact Polsky at 414-390-5935 or via email at mpolsky@bcblaw.net
About TriEnda Lexington Logistics, LLC
The Portage, WI company manufactures plastic pallets for automotive, agriculture, government, grocery, food and beverage, and more. Product distribution includes Europe, Canada, Mexico, and Australia. Lexington Logistics, LLC was previously known as Spara Logistics LLC and changed its name to Lexington Logistics, LLC in February 2012 and began doing business as TriEnda Lexington Logistics, LLC later that year. For more information http://www.trienda.com/
