Maynard Steel Shutdown Notice to Cavalier Johnson; Buyer Potential Emerges

Maynard Steel announced it is unable to continue operations at its 27th Street location in Milwaukee. The company had previously been placed in receivership by a Milwaukee judge in May after a third-party attempt to sell assets failed. While the initial notice warned of a December shutdown and layoffs, a subsequent email indicated the closure notice was sent out of caution pending a sale. An attorney representing Maynard Steel stated they are close to an agreement with a buyer who would hire all 77 employees at risk.

The potential sale and subsequent hiring of employees could stabilize the local industrial economy. The initial shutdown notice, sent to Mayor Cavalier Johnson, highlighted the company's inability to sustain operations despite efforts to find a buyer.