Article

Alton Steel has ceased operations at its 750,000 short ton/year electric arc furnace steel mill in Alton, Illinois, following a supplier's seizure of raw materials as collateral. The closure was announced on January 27, ahead of planned layoffs affecting 253 employees, set to begin on January 31.

Alton Steel indicated that its financial position was unstable but did not anticipate a sudden shutdown. The company invoked 'unforeseeable business circumstances' under the Worker Adjustment and Retraining Notification Act to explain the lack of a 60-day notice for layoffs.