by WILMINGTON, Del. — Canadian RTA manufacturer Bestar Inc. and its U.S. subsidiaries including Bestar USA Bush Industries and E-Solutions Furniture Group have filed Chapter 15 bankruptcy, a part of the U.S. Bankruptcy Code established in 2005 to facilitate bankruptcy proceedings between U.S. and foreign courts that are impacting financial interests in the U.S.
Debtor Bestar is headquartered in Sherbrooke, located in the province of Quebec, Canada, and has assets and operations in the U.S. including a distribution center in Erie, Pennsylvania, and a manufacturing facility in Jamestown, New York.
Both the Canadian and U.S. entities filed for bankruptcy protection on May 4. According to court documents, Bestar seeks to complete what is called a comprehensive, cross-border liquidation of its assets. PricewaterhouseCoopers is representing the companies in the bankruptcy proceeding.
Other corporate entities that are listed as debtors in the case are LCP Bush Holdings Inc., Bush Management Inc., Bush Industries of Pennsylvania Inc. and Bush Technologies Inc.
Details of the bankruptcy including the estimated amount of liabilities and assets was not cited in the public portion of the filing. However the filing lists more than 500 companies that are creditors in the case.
