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O.C. BUSINESS PLUS | ORANGE COUNTY BRIEFLY

Alyn Fires 32 in Move To Close Down

August 03, 2000|Leslie Earnest

Alyn Corp. dismissed 32 of its 36 employees this week as the Irvine company moves to go out of business, its bankruptcy attorney said Wednesday.

The company filed a bankruptcy petition on Monday to liquidate. Alyn owes a total of $11.5 million, including about $5.6 million to GE Capital and $3 million to Talisman Capital, attorney Richard Marshack said.

The company, which made the metal alloy Boralyn, decided to close its doors because it did not have sufficient financial resources to reorganize under bankruptcy laws, the attorney said.

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