Published in Breaking News

Grant-based painting company files Chapter 7 Bankruptcy

BY Thursday, April 13, 2017 10:30am

GRANT — Grand Valley Protective Coatings LLC, a painting and paper hanging company based in Grant north of Grand Rapids, has filed for Chapter 7 bankruptcy in the U.S. Bankruptcy Court for the Western District of Michigan.

The company, which does business as Detail Painting, reports assets of $270,339 and overall liabilities of $371,170, according to court records.

Sparta-based Choice One Bank is the largest secured creditor with a claim of $310,422, according to the filing. Unsecured creditors include the State of Michigan’s Unemployment Insurance Agency as well as Minneapolis-based Ally Bank and a variety of other service providers.

Muskegon-based Cloverdale Equipment and Hudsonville-based TNC Services LLC also are listed as unsecured creditors.

The company must file a statement of financial affairs with the court by April 25, according to a filing. A meeting of creditors is scheduled for May 16 at The Ledyard building in Grand Rapids.

Company President Rich Ulrich did not immediately respond to requests for comment.

The company is represented by Travis Russell at Russell Law Firm P.C. in Grand Rapids.

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