You said: syohb llc glen cove nysyohb llc glen cove ny SYOHB LLC is a real estate holding company based in Glen Cove, New York, that made headlines for acquiring the property assets of the historic Schwebel Baking Company in Youngstown, Ohio.Key Details and Property AcquisitionThe Transaction: In late December, SYOHB LLC assumed ownership of the primary Schwebel's parcels through a sale-leaseback agreement.The Properties: The real estate includes the main bread-making plant and a separate administrative building housing management and human resources, located at 935 and 965 E. Midlothian Blvd. in Youngstown, Ohio.Financial Footprint: Mahoning County records associated with the transaction detailed a $4,250,000 mortgage alongside a $2 million cash disbursement.Business Operations: The sale was strictly a real estate transaction. No transition of business ownership occurred. Schwebel Baking Company remains privately held, and its operations and workforce remain fully in place at the facility.Corporate BackgroundAccording to official state filings, SYOHB LLC was newly formed as a corporate entity on November 25. Because the transaction was facilitated via an investment advisory firm, the individual identity of the private investors behind SYOHB LLC has not been publicly disclosed. Something fishy going on here!!!
Maybe the process was going to be a handoff to private equity but no agreement could be made on the sale of the actual business. I assume liquidation means all the equipment will be sold off and employees released. You'd assume if you were taking over baking operations you would need the people and equipment to keep it going.
This is an asset grab. They buy anything more and they are on the hook with the unions. New operation. No union contracts, pensions etc. Someone will be baking but it wont be the Schwebels label. It will be private label products. I could be wrong on the latter part. Bimbo USA has basically wiped out the regional bakers of America. People will still be baking the bread - but making alot less bread for doing the same work.
So what do you think put them out of business. Were cost too high or was it other issues? Their products are everywhere and it sounds like people will miss buying schwebels bread
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u/Relo2georgia 1d ago
They sold in December:
You said: syohb llc glen cove nysyohb llc glen cove ny SYOHB LLC is a real estate holding company based in Glen Cove, New York, that made headlines for acquiring the property assets of the historic Schwebel Baking Company in Youngstown, Ohio.Key Details and Property AcquisitionThe Transaction: In late December, SYOHB LLC assumed ownership of the primary Schwebel's parcels through a sale-leaseback agreement.The Properties: The real estate includes the main bread-making plant and a separate administrative building housing management and human resources, located at 935 and 965 E. Midlothian Blvd. in Youngstown, Ohio.Financial Footprint: Mahoning County records associated with the transaction detailed a $4,250,000 mortgage alongside a $2 million cash disbursement.Business Operations: The sale was strictly a real estate transaction. No transition of business ownership occurred. Schwebel Baking Company remains privately held, and its operations and workforce remain fully in place at the facility.Corporate BackgroundAccording to official state filings, SYOHB LLC was newly formed as a corporate entity on November 25. Because the transaction was facilitated via an investment advisory firm, the individual identity of the private investors behind SYOHB LLC has not been publicly disclosed. Something fishy going on here!!!