Lyon Workspace Products LLC, which makes lockers, metal filing cabinets and storage racks at plants in Illinois and Indiana, filed for chapter 11 protection citing high labor and commodity costs, Dow Jones DBR Small Cap reported today. The company said that it plans to hold an auction to sell the business. Lyon Workspace did not list a sale price in court papers, but estimated its assets were worth between $10 million and $50 million on its bankruptcy petition.
