Enstrom rescue could be finalised this week
Michigan based manufacturer Enstrom closed on Friday 21st January after 62 years with the company filing for Chapter 7 bankruptcy. This means the company is being liquidated and there is no potential for reorganisation under the current ownership.
- 660 F28A, F28C and F28F
- 3 TH-180
- 419 F280C, F280F, F280FX and F280L
- 259 480 and TH-28
Potential parties are lining up to buy the assets of the company and reopen it – with an appreciable amount of business to be done in parts sales alone. The liquidation process is never a quick one, but we understand that this could happen as early as this week, allowing the purchasers to take a booth at the Heli-Expo event next week in Dallas to lay out their plans for the future of Enstrom. Local reports suggest that liquidation lawyers Butzel & Long have a preference to sell to a US buyer, in contrasting to the previous owners – the Chinese company Chongqing Helicopter Investment Corporation.
We trust that the legacy of this helicopter manufacturer, built through at least six different owners over the years, will have a long-term secure future.