Four Seasons Fireplace & Patio files bankruptcy
Chapter 11 filing lists liabilities at $2.3M
-- Casual Living, 3/21/2006 8:06:00 AM
Four Seasons Fireplace & Patio, a corporation doing business as Fireplace Supply Wholesalers, filed Chapter 11 bankruptcy last month in the middle district of Pennsylvania.
Liabilities amounted to more than $2.3 million and personal property assets exceeded $1.8 million, according to court documents filed Feb. 20. “We’re in the midst of reorganizing,” president Allen Lehner said. “We closed and sold a couple of stores before the filing. We’re not liquidating. There are issues involved that I can’t really go into now.” The family-owned company listed Robert H. Peterson Co. as the largest of 20 unsecured creditors with a claim of nearly $325,000. Debt to Winston Furniture Co. was listed at about $265,000 and to Brown Jordan Co., nearly $147,000. Business debt to other outdoor furniture manufacturers included nearly $29,000 to Carter Grandle; about $27,300 to Lane; nearly $24,500 to Lloyd/Flanders; $20,000 to iGarden; $16,600 to Woodard Casual; nearly $11,800 to Telescope Furniture and nearly $10,000 to Dayva International. Debt to other suppliers included approximately $53,000 to Pilgrim Fireplace Co.; nearly $53,000 to Byers International; about $51,500 to Monessen Hearth Systems and about $42,500 to Dimplex North America. Based in Lancaster, other Pennsylvania stores are in Blue Bell, Harrisburg, Paoli and Whitehall, and Wilmington, Del. In September, Four Seasons was included in Casual Living’s 100 Powerhouse Specialists with eight stores and 2004 total sales estimated between $9 and $9.9 million. Gross income for fiscal year 2005 was listed at $4 million, according to court filings.
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