Carter Grandle files for Chapter 11

Not sure if company will remain open

Courtney Mueller -- Casual Living, 1/12/2007 12:07:00 PM

Carter Grandle filed for Chapter 11 on Sunday with the Middle District of Florida, Tampa division.

The company closed its doors on Nov. 10, owing $1.2 million to LaSalle Bank, with plans to secure local investors, bring in new people and restart production in early 2007.

According to the filing, Carter Grandle estimates funds will be available to pay unsecured creditors. Eastern Metal Supply of Orlando, Fla., holds the largest unsecured claim of $567,391. Other companies include Shuford Mills, Inc., $132,964; Merchandise Mart, Chicago, $113,654; Vf Jeanswear (Wrangler), $98,703, and Glen Raven Mills, $70,431.

Benjamin G. Martin, Esq., of Sarasota, Fla., has been appointed attorney for the company.

During a phone call today, Webb Carter wouldn’t comment on whether the company remained open or would close, but said his attorney would issue a press release.