Art Horizons closes; owes county, city and planning district
by Associated Press
Published: September 11,2012
Tags: banking, bankrupt, city, close, closure, county, finance, loan, manufacture, manufacturer, manufacturing, municipality, planning district, plant, tax
BATESVILLE — A Batesville company that made framed pictures has closed as government entities and a bank fight over the bankrupt firm’s assets.
James Curcio, executive director of the North Delta Planning and Development District, says Art Horizons Inc. closed in late August.
According to a filing with the Mississippi Department of Employment Security, Art Horizons had 70 employees when it closed. That’s down from 120 employees when it filed for Chapter 11 bankruptcy reorganization in May.
The company, owned by a Memphis family, owes more than $700,000 combined to Panola County, the city of Batesville and the planning district.
The city and district had loaned Art Horizons money to aid economic development in recent years. However, Louisiana-based Iberia Bank is challenging the city and district’s claims to the company’s equipment.
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