Two Companies filing Bankruptcy

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The oldest travel club in the country with its own aircraft, the Nomads is filing for Chapter 7 bankruptcy in US Bankruptcy Court in Detroit. In their bankruptcy filing, the club listed assets amounting to $3,900,798 but $3,917,944 in liabilities.

Of late, the club’s fuel supplier had cut off supplies to the club due to non-payment of invoices. At the same time, the club could not meet its obligations to pay salaries and other commitments. The board of directors wrote a letter to the members to this effect. The directors also sought for a buyer to purchase the club but all efforts were unsuccessful.

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Tampa Bay Bankruptcy Center, P.A. on:

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