http://www.bizjournals.com/phoenix/news/2012/06/22/pet-resorts-files-chapter-11.html
Mesa-based Pet Resorts Inc. filed for Chapter 11 bankruptcy in federal court on June 15, citing about $9.5 million in debts.
Pet Resorts, which owns a 52 percent stake in Pete and Mac’s Pet
Resorts with two Phoenix locations, has only $2.3 million in assets,
according to its bankruptcy filing
When reached by phone, Gay Barwald, the president of Pet Resorts, declined to comment. Calls to the centers said the company was still accepting reservations.
According to the bankruptcy filing, all the claims against the
company are unsecured. The largest claim is about $6.9 million by Wes Remington,
an owner of the company. Remington owns about 37 percent of the
company. Barwald also is listed as a debtor with a claim of about
$800,000.
The company owes more than $300,000 to American Pet Care Properties
Northglenn LLC for unpaid rent. ARC Building Group Inc. is another large
creditor, with a disputed claim of nearly $500,000. Pet Resorts also
owes money in unpaid wages.
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