Some high-profile bankruptcies in Sept.
Even though some major business bankruptcies have made headlines in recent days — from Friendly’s nationally to Kingsbury Corp, Ezenia Inc. and Wings Your Way in New Hampshire — there is still some good news: The number of individual filings still lag behind last year’s record pace.Some 375 New Hampshire households and businesses filed for bankruptcy in September, about 20 more than August, (6 percent increase), but more than 100 fewer than September 2010 — a 22 percent decrease.However, several of the seven business filings – only two more than last year – were major: Kingsbury, a machine tool manufacturer in Keene: Wings Your Way, a small restaurant chain based on the Seacoast; and Ezenia, one of the few public companies still based in New Hampshire. The businesses filing for bankruptcy in September were: • WYW Manchester LLC, dba Wings Your Way Manchester, Stratham, filed Sept. 6, Chapter 11 (with a motion to convert to chapter 7 and also to dismiss). Assets: $50,000-$100,000. Liabilities: $500,000 to $1 million. • Bay Ridge Real Estate Development LLC, Nashua, filed Sept. 16, Chapter 11. Assets: $140,000. Liabilities: $546,750. • Cornerstone Auto Repair II LLC., New Boston, filed Sept. 21, Chapter 7, Assets: $30,000. Liabilities: $352,496. • Granite State Drywall Inc., Manchester, filed Sept. 30, Chapter 7. Assets: $156,374. Liabilities: $526,477. • Kingsbury Corp., Keene, filed Sept. 30, Chapter 11. Liabilities: $10-$50 million. • Ventura Industries, LLC (related to Kingsbury), Charlestown, Mass., filed Sept. 30, Chapter 11. $1-$10 million. Liabilities: $10 million to $50 million. • Ezenia Inc., Nashua, filed Sept. 30, Chapter 11. Assets:$ $1-$10 million. Liabilities: $1-10 million. — BOB SANDERS/NEW HAMPSHIRE BUSINESS REVIEW