Arch Aluminum and Glass has filed for Chapter 11 bankruptcy protection.

The construction supply company announced Monday that it has already reached an agreement to sell its assets and reorganize debt. The company stated that it would sell all assets to an affiliate of Grey Mountain Partners LLC, a private equity firm in Boulder, Colorado.  Arch is seeking approval for an expedited auction process with the agreement.

CEO for Arch, Leon Silverstein, said the agreement would allow the company to keep operating and maintain employment levels.

“Our goal is to preserve and strengthen our business so that we can compete successfully in the future… We expect this transaction process to be completed very quickly.”

Arch listed debt and assets of more than $100 million each.

If you are considering filing for bankruptcy, please contact the Boston Bankruptcy Lawyers of Joshua Spirn & Associates, by calling 800-975-5346.