Economy

Federal judge approves sale of Schwebel Baking Co. assets

Federal Judge John R. Adams on Thursday approved the court-appointed receiver's motions to hire Maynards Industries USA LLC and Loeb Equipment Supply Co. as liquidation agents for Schwebel Baking Co. assets, writing that the move was "in the best interest of the receivership estate and its creditors."

The guaranteed sale agreement provides a minimum recovery of $2.8 million, backed by a $2.35 million up-front deposit, and resolved objections from landlords of five former Schwebel properties.

Schwebel, a 120-year-old Mahoning Valley company, announced in June it would wind down operations, citing aging facilities, costly labor contracts and pension obligations. A receiver was appointed in July after Spectrum Commercial Finance sued over a $3.8 million debt.

Assets have been consolidated at five sites in Youngstown, Hebron, Strongsville and Dayton ahead of the liquidation sales.

Sources: Business Journal Daily (Oct 23, 2026); federal court records, N.D. Ohio (Case 4:26-cv-01628).

Sponsored

MR CAT ADVERTISINGDOES YOUR BUSINESS NEED MORE CUSTOMERS?

VISIT SITE →