© 2021 West Virginia Public Broadcasting
Telling West Virginia's Story
Play Live Radio
Next Up:
Available On Air Stations

Freedom Industries Could Have $3 Million Left by June

Freedom Industries
Aaron Payne
West Virginia Public Broadcasting

The company that spilled chemicals into 300,000 West Virginians' water supply could have about $3 million left this summer before paying hundreds of creditors.
Freedom Industries Chief Restructuring Officer Mark Welch estimated in bankruptcy court Tuesday that $2.5 million to $3 million would remain in mid-June. He said the 51-employee company will cease business operations by the week's end.

Judge Ronald Pearson approved Freedom's hire of Welch Tuesday, despite concerns about pay rates. Welch estimated he could net Freedom $1 million by collecting payments and finding savings during environmental cleanup.

Freedom's deadline was Saturday to start demolishing the Charleston facility responsible for the Jan. 9 spill, which contaminated water for days.
Dozens of creditors are businesses and residents who sued Freedom over lost wages and profits during a water-use ban.

WVPB is local news, education, music, and entertainment for West Virginia.
Your donation today will help keep us strong and vital.