Franco Haulaling LLC, a veterans’ company owned by veterans based in Bensenville, Illinois, applied for bankruptcy protection in Chapter 11 in the northern Illinois district.
According to the request for a bankruptcy court on 42 pages received by Freightwaves, a job owned by July, Franco has up to 49 estimated creditors. Franco Hauling estimated the property between $ 50,000 and $ 100,000, and the company has $ 500,000 to $ 1 million.
The best creditors with the highest uninsured claims include the guardians of the pension funds for social welfare of suburban teams ($ 349,439), Schaumburg Bank & Trust ($ 84.508) and Graciel Franco ($ 40,000).
The submission stated that the guardians of the North III suburban teams claim that fees are in accordance with the collective agreement. Teamsters Local 673 in Western Chicago, Illinois, also claims $ 15,150 in union fees.
Franco Hauling LLC manages transportation for the construction industry in the Chicago metropolitan area.
The company submits under Chapter V from Chapter 11, allowing simplified reorganization procedures for small businesses.
Fast Illinois Construction Company to Transport File Chapter 11 bankruptcy appeared first on Freight waves.
