Window maker files Chapter 7 bankruptcy

By Catherine Kavanaugh
Staff Reporter

Published: July 17, 2014 2:14 pm ET
Updated: July 17, 2014 2:17 pm ET

Related to this story

Topics United States, Windows & doors

Waterville Window Co. Inc., in Winslow, Maine, filed for Chapter 7 bankruptcy after 61 years in business, citing liabilities of $813,870 to about 30 creditors, including a couple of PVC extruders.

The window fabricator will cease operations and liquidate assets of $54,500 — a truck, van and office equipment — to pay down debt owed to four creditors, two of which are banks. Secured claims total $389,000.

Window profile extruder Veka Inc. of Fombell, Penn., has the largest unsecured claim of $111,000 after essentially repossessing $1,780 of product in February, according to the July 14 filing in U.S. Bankruptcy Court in Bangor, Maine.

BRT Extrusions, Inc., of Niles, Ohio, has a $2,800 non-priority claim against the window company.

In 2013, gross receipts for Waterville Window totaled $2.1 million, the filing says.

Last December, eight of the 21 employees were laid off. Owner Donald J. Shirley said window sales had dropped more than $1.5 million over a three-year period and he planned to focus on vinyl rails and fences, according to a report published last December by the Morning Sentinel.

Shirley announced the creation of a fencing company called Maine Innovations Inc. on the Waterville Window Facebook page on Jan. 10. He is listed as president on its website and the businesses have the same address.

Maine Innovations has a $73,500 unsecured claim against Waterville Window, according to the bankruptcy filing.


Comments

Window maker files Chapter 7 bankruptcy

By Catherine Kavanaugh
Staff Reporter

Published: July 17, 2014 2:14 pm ET
Updated: July 17, 2014 2:17 pm ET

Post Your Comments


Back to story


More stories

Image

Bankruptcy court confirms GSE reorganization plan

July 29, 2014 4:01 pm ET

The U.S. Bankruptcy Court in Wilmington, Del., has confirmed the reorganization plan for geomembranes maker GSE Environmental Inc.    More

Image

Vinyl siding's lead slips, but industry pushing back

July 29, 2014 2:04 pm ET

Vinyl siding continues to be the top cladding choice for home builders and remodelers but fiber cement is gaining ground — at an alarming rate...    More

Image

Universal Polymer beefing up capabilities through acquisition

July 29, 2014 12:04 pm ET

Universal Polymer & Rubber Ltd. is growing again and adding to its capabilities, this time via another acquisition and a plant expansion.    More

Image

Acquisition expands Rieke Packaging's stake in Asia

July 28, 2014 4:39 pm ET

Diversified rigid packaging components producer Rieke Packaging Systems now has a bigger footprint in Asia.    More

A third generation is adding to the growth at American Vinyl Co.

July 28, 2014 4:32 pm ET

American Vinyl Co., a compounding and extrusion company that increased its workforce 20 percent this year, is looking to double its space for storing ...    More

Market Reports

Plastics Recyclers Data Report & Directory

This exclusive MS Excel database contains all the companies from Plastics News' ranking of top North American Recyclers and Brokers by reprocessed volume and also includes a directory with materials processes, services offered and company contact information. Data is based on primary research by PN editorial staff.

Learn more

2014 Injection Molding Industry Report

GROWTH, OPPORTUNITY IN SIGHT FOR INJECTION MOLDERS IN 2014

In the wake of the economic turbulence earlier in this decade, molders today find themselves in much better shape. Molders are gaining a competitive advantage by investing in people, equipment and seeking inroads into new markets on a global scale.

Growth in the injection molding industry is going to be driven by low financing costs and a continued move to reshore some business.

Learn more

Shale Gas Market - Analysis of North American Region

This report highlights the impact of shale-based natural gas on the North American plastics market and features an in-depth analysis of production trends in the United States during 2013 and a forecast for 2014 and beyond.

Learn more

Upcoming Plastics News Events

September 10, 2014 - September 12, 2014Plastics Caps & Closures 2014

January 14, 2015 - January 14, 2015Plastics in Automotive

February 4, 2015 - February 6, 2015Plastics News Executive Forum 2015

More Events