Rodney Ratliff has sold his metal recycling business and inventory on Regan and Holmes streets, and is now looking for a buyer for the four acres of real estate.
Metal Recyclers of Kentucky, with operations in Frankfort and Lexington, has been sold to Cohen Brothers, of Middletown, Ohio, which has operations in Lexington. Ratliff didn't disclose the sale price.
"I figured 47 years in the business is long enough," said the 70-year-old Ratliff, early today. "I have two daughters and they weren't interested in taking over the operation. A good, solid company came along who wanted to purchase the business, so I decided to sell. Cohen Brothers has been in the business since the 1800s, and now operate in Ohio, Kentucky and Tennessee."
Ratliff signed a "no-compete contract," saying the property will not be used for another scrap metal or metal recycling business.
He said he doesn't know what will happen next on the local site.
"I'm open for suggestions," Ratliff said. "I'm not going to develop it myself. It's available for sale and development. That's the way I feel today. Now tomorrow I might change my mind.
"The state has shown a great interest in purchasing the property. The city has shown some interest, but not as much as the state has."
When asked what the selling price is, Ratliff said, "I don't know. Make an offer."