More than a dozen potential buyers line up to bid on site of damaged PES refinery

Mark Abrams
November 12, 2019 - 7:23 am
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PHILADELPHIA (KYW Newsradio) — There are at least 15 potential bidders lining up to buy the Philadelphia Energy Solutions refinery in South Philadelphia, which was damaged in an explosion and fire in June. 

In the most recent court filings in bankruptcy court in Wilmington, PES disclosed that it actually gave access to financial and operational data to at least 37 potential bidders.

From that group, 15 submitted formal written statements indicating their interest in the huge property. None of the potential bidders was identified.

They now have until Nov. 22 to submit formal proposals to get qualified for a final bidding process, which would be supervised by the court.

On Thursday, Bankruptcy Court Judge Kevin Gross is scheduled to hold a hearing to consider PES' request to establish bidding procedures for the refinery sale.

The company also wants to expedite the auction process and is asking Gross to set the auction for Jan. 10.

But there are objections to that date from a bankruptcy trustee, who says the compressed timetable could discourage bidders.

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Meanwhile, the union representing some 80 workers still at the site for cleanup and to maintain equipment says it got word that as many as 60 of them could be furloughed as of Dec. 1