Photo of house under construction with G&G Restoration name and bankruptcy tag

Citing over $75,000 in debt owed to four material suppliers and equipment lessors, Connecticut subcontractor G&G Restoration filed for Chapter 7 bankruptcy on December 31, 2020, according to the US Bankruptcy Court for the District of Connecticut

G&G Restoration, based in Seymour, Connecticut, claims in their bankruptcy petition that they owe $123,801.58 to seven creditors, none with secured claims. 

Six of G&G Restoration’s creditors are listed as nonpriority unsecured creditors, while the Department of Revenue is named in the filing with a priority unsecured claim worth $35,000 concerning business sales taxes from 2019. 

At the time of the Chapter 7 bankruptcy filing, G&G Restoration reported the following: 

  • $123,801.58 in total liabilities 
  • $12,000 in total assets (all accounts receivable)
  • $0 in total checking 

G&G Restoration became a limited liability company in November 2019. According to the Connecticut Secretary of State, the contractor’s business status remains listed as “active” following the December 2020 bankruptcy filing.  

A Chapter 7 bankruptcy filing involves the sale of the debtor’s nonexempt property. This process is known as liquidation, and after the debtor’s assets have been liquidated, the remaining proceeds are distributed to creditors. 

At the time of their bankruptcy filing, G&G Restoration reported having seven unsecured claims worth a combined $123,801.58, and no reported secured claims listed in the petition. 

What’s On My Roof, LLC is listed with the largest nonpriority unsecured claim at $43,000. The three remaining material suppliers and equipment lessor creditors include: 

  • ABC Supply Co. – $20,000
  • CWPM Refuse and Recycling – $7,233.35
  • Oak Bridge Waste and Recycling – $5,000

In total, the four suppliers and equipment lessors are owed a combined $75,233.35. 

The bankruptcy filing also lists an open contract dispute. A 2020 contract between G&G Restoration and a client listed as Chris & Christa Delgais remains disputed as of the bankruptcy filing. 

The contract dispute for restoration work has caused the client to also be listed as an additional nonpriority unsecured creditor in G&G Restoration’s bankruptcy petition. The unsecured claim is listed at $2,650.