The following firms have filed for bankruptcy protection recently with local clerk of court offices of the U.S. Bankruptcy Court.
Under Chapter 11 of the federal bankruptcy code, a company is protected from claims by creditors while it attempts to reorganize its finances under a plan approved by the court. In a Chapter 7 liquidation, a court trustee sells assets to pay creditors' claims. The company then ceases operations.
Rockville Court District of Maryland
Rogers Electric Co. Inc. of 5720 Columbia Park Rd., Cheverly, was the subject of an involuntary Chapter 7 liquidation petition filed Sept. 28. The Electrical Workers Local No. 26 claimed the firm failed to make $30,316 in contributions to the pension, welfare and individual worker account funds administered by the union.
E. James Clark, doing business as Clark Engineering and Construction, of P.O. Box 571, Oakland, filed for Chapter 7 liquidation Oct. 1. The firm listed assets as between $50,000 and $99,000 and liabilities as between $100,000 and $499,000.
Finesco Inc., doing business as Freedom Rent-a-Car Center and Freedom Leasing, P.O. Box 1284, Laurel, filed for Chapter 7 liquidation Oct. 2. The car rental company, which said it had been trying to liquidate its business over the past year, listed property of $1,295 and debts of $837,479.
Alexandria Division Eastern District of Virginia
Dominion Site Development of 8303 Quarry Rd., Manassas, filed for Chapter 11 reorganization Sept. 27. The excavation and utility contractor listed assets of $4 million and liabilities of $3.5 million.
Gran-Mark Income Property Ltd. of 7900 Sudley Rd., Suite 403, Manassas, filed for Chapter 11 reorganization Sept. 28. The real estate firm said both its assets and liabilities were more than $1 million.
Parkway Associates of 2111 Wilson Blvd., Arlington, filed for Chapter 11 reorganization Sept. 28. The firm did not list its assets or liabilities.
District of Columbia
New Image Laboratories of Washington, c/o Scott M. Ginsberg, P.O. Box 3786, Arlington, filed for Chapter 7 liquidation Oct. 1. The firm, which specializes in the treatment of hair loss, listed assets of $2,419 and liabilities of $62,654.