Bay Harbor Professional Services files for Chapter 7 liquidation [Richmond Times-Dispatch, Va.]
(Richmond Times-Dispatch (VA) Via Acquire Media NewsEdge) Feb. 06--Bay Harbor Professional Services LLC, an information technology and professional services consulting company, filed for bankruptcy protection Monday in U.S. Bankruptcy Court in Richmond.
The company is seeking a voluntary Chapter 7 liquidation of the business.
It listed assets of $50,000 or less and liabilities of between $1 million and $10 million.
The company said it has fewer than 49 creditors, according to its filing.
It estimates that no funds will be available for distribution to unsecured creditors, after any exempt property is excluded and administrative expenses are paid.
The attorney for the company could not be reached for comment late Tuesday afternoon nor did anyone answer the company phone. James G. Simmons was listed as company president.
In early 2011, Bay Harbor was based in western Henrico County. It employed about 250 people, including 150 who worked at Capital One Financial Corp., a credit card and financial services company and the largest employer in the Richmond area.
A Capital One subsidiary had sued Bay Harbor Professional Services, formerly known as Staff Focus Consulting, seeking damages of more than $700,000 for breach of contract.
It could not be determined Tuesday how the lawsuit was resolved or whether it contributed to the bankruptcy.
Bay Harbor's website says it is located in western Henrico, but the phone number there is no longer working. The bankruptcy filing says the company office is in Chesterfield County -- the same address as its attorney's.
(c)2013 the Richmond Times-Dispatch (Richmond, Va.)
Visit the Richmond Times-Dispatch (Richmond, Va.) at www.timesdispatch.com
Distributed by MCT Information Services
[ Back To Technology News's Homepage ]