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. Eastern Virginia District Alexandria Division
Barbara's Hair Studio Inc. of Warrenton filed for Chapter 7 liquidation Nov. 30.
The hair salon listed assets of $18,833 and liabilities of $68,421.
Maryland District Rockville Court
Commonwealth Environmental Services filed for Chapter 11 reorganization Nov. 29. No further information was available.
The Rojac Group Inc. of Rockville filed for Chapter 11 reorganization Nov. 30. The company listed assets and liabilities as undetermined, but owes $1.4 million to Crestar Bank, one of its creditors.
Corning Inc. of Corning, N.Y. filed a petition Dec. 5 seeking to have its creditor, United States Optical Inc. of Lanham, placed into involuntary Chapter 7 liquidation.
The company said Optical has liabilities of $1.6 million, of which $1.4 million is owed to Corning.
Margaret Virginia Gable of Upper Marlboro, doing business as Taragram Partnership, filed for Chapter 13 individual reorganization Dec. 5. Gable listed assets and liabilities for the real estate management company of between $100,000 and $499,000.
District of Columbia
Dunbarton Preservation Association Ltd. of Chevy Chase filed for Chapter 11 reorganization Nov. 29. The real estate development company listed assets of $1.9 million and liabilities of $1.51 million.
Spring Valley Wine and Liquors Inc. in Northwest filed for Chapter 11 reorganization Nov. 28. The company listed assets of $650,000 and liabilities of $850,000.
Atlantic Beverage Inc., doing business as the Bourbon Street Market in Southwest, filed for Chapter 7 liquidation Nov. 30. The food and beverage company did not list its assets or liabilities.