Metal Manufacturer, Precision Manufacturing Group, Files for Chapter 11 Bankruptcy

Precision Manufacturing Group, a metal manufacturer near Muskegon, has filed for Chapter 11 bankruptcy, court documents show.

The case was filed voluntarily. According to the May 4 filing in U.S. Bankruptcy Court for the Western District of Michigan, Precision has slightly less than $810,000 in assets, while its total liabilities exceed $3.5 million. That includes more than $2 million owed to Byline Bank and nearly $500,000 owed to the Small Business Administration, the filing shows. Crain’s Grand Rapids Business was first to report the news.

Read more at WOODTV