As of Thursday, August 9, 2012
Hood River’s Maritime Services Corporation has filed for Chapter 11 protection in Oregon Bankruptcy Court.
The marine interior design and outfitting company is headquartered in Hood River, but also has offices in Florida, Washington, Wisconsin, Texas and the United Kingdom.
A Chapter 11 bankruptcy filing allows the company to attempt to reorganize its debts and continue as a functioning company.
Also included in the filing were ProBuild Construction LLC, Craft and Design LLC and Maritime Services Corp UK.
The bankruptcy filing was made voluntarily on June 26, and lists 619 creditors.
In the filing, the company lists nearly $4 million in assets against $7.5 million liabilities. Among the creditors with secured claims, or claims secured by collateral, AMC Finance of Spokane, Wash., has a claim for $1.65 million, followed by Maritime President George Selfridge with a $822,000 claim and subsidiary company High Seas III with a $192,000.
Numerous unsecured claims were entered for expense reimbursement or wages for employees as well as for trade debts with companies.
The bankruptcy is being supervised by the U.S. Trustee’s office in Portland, and the company is represented by Portland Attorney Joseph Field.
Ed Lennox of Beaver Creek, who worked for the company for 3½ years, was laid off in mid-June and said he was awaiting his final paycheck when the company filed for Chapter 11. He said he was then contacted and told he would not be receiving a check.
“I thought it was a less than honorable way to go about things,” he said.
Neither Maritime Services President George Selfridge nor the company’s bankruptcy attorney returned repeated calls for comment.
Maritime Services was founded in 1986 and has made a name for itself handling ship interior outfitting for major cruise lines.
According to the company it also provides “case work and millwork manufacturing, distribution of complete Norac AS joiner and wet space products, marine interior design, full marine electrical packages, materials-only packages, MML USA marine doors and windows and the import and distribution of numerous marine product lines from Europe and elsewhere.”