With over 30 contractors and suppliers listed as creditors with unsecured nonpriority claims in their filing, North Carolina material supplier H&M Construction Solutions filed for Chapter 7 bankruptcy on December 14, 2020, according to the US Bankruptcy Court for the Western District of North Carolina.
H&M Construction Solutions, which is headquartered in Matthews, North Carolina with a second office in Lexington, South Carolina, claims in the bankruptcy filing that they owe $679,766.61 in unsecured nonpriority claims to 57 creditors — 36 of which are contractors or material suppliers.
At the time of their bankruptcy filing in December of 2020, H&M Construction Solutions reported the following estimates:
- $500,001 – $1 million in estimated liabilities
- $0 – $50,000 in estimated assets
What is Chapter 7 bankruptcy?
Chapter 7 of the US Bankruptcy Code provides for liquidation, which is the sale of the debtor’s nonexempt property — property not necessary to maintain a basic standard of living. Once the debtor’s assets have been liquidated, the funds are dispersed to their creditors.
As explained by USCourts.gov, a trustee is appointed by the bankruptcy court to oversee the entire Chapter 7 process. The trustee will then review the debtor’s assets and determine which can be liquidated in order to pay back creditors. Afterwards, the trustee meets with the creditors to validate the debtor’s petition for bankruptcy and their finances.
H&M Construction Solutions’ Chapter 7 bankruptcy filing lists 57 unsecured claims
H&M Construction Solutions’ 36 contractor and material supplier creditors are allegedly owed a combined $576,618.85 in unsecured nonpriority claims.
Hardware wholesaler Banner Solutions holds the largest claim worth $269,156.62. Other contractors and suppliers listed as unsecured creditors include:
- ABH Manufacturing – $591.32
- Accurate Partitions – $13,003.77
- American Specialties – $3,692.11
- Anemostat Door Products, Inc. – $4,308.68
- Assa Abloy – $7,564.15
- Cardinal Millwork & Supply, Inc. – $68,678.15
- CDS Installers – $1,290
- Concept Frames – $12,273
- Dayton Industries – $191.19
- Design Hardware – $18,411.49
- Don-Jo MFG., Inc. – $4,945.55
- Dormakaba USA – $30,384.05
- Fortress Door Co. – $1,123
- H&E Equipment Services – $11,165.84
- H.M. Kern Corporation – Unknown
- Hager Companies – $16,118.5
- Hite’s Safe & Lock – $997
- HITT Contracting, Inc. – Unknown
- HMF Express, LLC – $17,228
- Home Builders Supply Co., Inc. – Unknown
- Marshall’s Locksmith Service – $4,178.65
- MedTel Communications – Unknown
- Mesker Door, Inc. – $30,384.05
- Metawood, Inc. – $665.12
- Mike Smith Ntl. Guard Products – $2,426.66
- Oshkosh Door Company – $35,785.67
- Pascon, LLC – $110
- Resolute Building Company – Unknown
- Rockwood Manufacturing – $7,902.85
- Southern Builders – Unknown
- Southern Lock & Supply – $132.42
- Tell Manufacturing – $11,454.74
- Tormax – Unknown
- Tradesmen International – $680
- Trimco – $1,776.27