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Bankruptcy Reorganization Chapter 11

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May 22, 2013

Cooper-Booth Wholesale Company, L.P. Files For Chapter 11

Cooper-Booth Wholesale Company, L.P. filed for Chapter 11 yesterday at the United States Bankruptcy Court, Eastern District of Pennsylvania. 

The Mountvile, PA-based convenience store wholesaler is represented by Maschmeyer Karalis P.C.

According to the Debtor's Declaration, a Chapter 11 filing was the best alternative after PNC Bank declared the Debtor in default of their credit facilities. The Default was declared in reaction to a U.S. Government seizure warrant resulting from an investigation of one of the Debtor's customers.

"The Debtors were experiencing sales growth, were operating profitably and the future was bright and prosperous.  However, the Debtors have been victims of unfortunate circumstances".

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