Jeff Sands, a Mandeville native, is an investor who buys midsize companies that are struggling and turns them around. Sands recently explored a deal for the now shuttered Bayou Steel Group. St. John the Baptist Parish’s largest employer that suddenly laid off its entire workforce then declared bankruptcy. Sands runs American Industrial Acquisition. He says Bayou’s bankruptcy lawyer got back to him earlier this week. Sands and six other potential investors now have access to Bayou’s books to size up the company’s financial state to see if it can be salvaged. Bayou Steel will officially file for bankruptcy in Delaware at a hearing scheduled for October 22nd.
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