Home » NEWS » Crane firm files for bankruptcy as creditors move against it

Crane firm files for bankruptcy as creditors move against it

A Mississippi rigging company has filed for Chapter 11 bankruptcy reorganization.

The Commercial Dispatch reports Burkhalter Rigging of Columbus filed Jan. 31 in Texas.

The move came on the same day that three creditors tried to force Burkhalter into involuntary Chapter 7 bankruptcy liquidation in Mississippi. The creditors claimed Burkhalter owed them almost $1 million, but dropped the case when Burkhalter filed on its own.

The company says it owes $4.3 million to its 20 largest unsecured creditors.

Burkhalter specializes in moving heavy equipment for petrochemical, power, civil and marine industries worldwide.

The company says in court documents that it will appoint a chief restructuring officer to draw up a budget, work with vendors and assist managers with restructuring issues.

The third-generation family business is owned by Delynn Burkhalter.

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