Mainstreet Delivery files for Ch. 7 bankruptcy
By Larry Thomas -- Furniture Today, January 18, 2009
MILWAUKEE — Mainstreet Delivery, a home delivery service that had several furniture industry customers, has filed for Chapter 7 bankruptcy.
The Green Bay, Wis.-based company, which had been struggling financially for about three years, said in the filing that it is seeking to liquidate its assets and distribute a portion of those funds to creditors.
According to documents filed with U.S. Bankruptcy Court here, the company has assets of $110,050 and liabilities of about $902,277.
Mainstreet Delivery contracted with owner-operators for its deliveries, so its assets consist largely of personal property such as office equipment and furniture. The company does not own any trucks or other delivery vehicles, according to court documents.
Court documents indicate the company lost an estimated $500,000 in 2008. That came on top of a $709,035 loss in 2007 and a $879,757 loss in 2006.
Transportation industry veteran Maury Mussa is the principal owner of the company.
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