However, in March 1999 the company filed bankruptcy and reorganized with a $110 million loan via the Emergency Steel Loan Guarantee Act of 1999, but the reorganization attempt failed. Geneva Steel filed bankruptcy again and shut down permanently in November 2002.
In March 1999, the company went bankrupt and restructured with a $110 million loan from the Emergency Steel Loan Guarantee Act of 1999, but this attempt at reorganization failed. Geneva Steel filed for bankruptcy again in November 2002 and permanently closed its doors.