Boeing Supplier TECT Wins Approval to Liquidate in Bankruptcy

TECT Aerospace Group Holdings Inc., a former Boeing supplier, won court approval to wind down in bankruptcy following the sale of its manufacturing facilities and other assets.

Judge Karen B. Owens approved the plan during a hearing Tuesday in the U.S. Bankruptcy Court for the District of Delaware. The company filed for Chapter 11 last year in the state following declines in business caused by the pandemic and production problems with Boeing’s 737 Max aircraft.

While in bankruptcy, the company sold a manufacturing facility in Washington state to competitor Wipro Givon USA Inc. for $31 million, and sold two Kansas ...