CREDITORS FILE CHAPTER 7 AGAINST ANN TRAVIS INC.
NEW YORK — An involuntary Chapter 7 liquidity petition was filed against Ann Travis Inc. by six creditors who claimed they are owed a combined $293,167.
As reported, Donnkenny on July 5 said it entered into agreements to acquire Travis, which makes the Delta Burke large-size apparel line. Daniel H. Levy, chairman at Donnkenny, said Monday his firm bought the assets from CIT Commercial Services, Travis’s secured creditor, and the potential petition won’t affect the purchase. “We wouldn’t announce it if the deal hadn’t been done,” said Levy.
The petition in Manhattan’s bankruptcy court was filed on July 6 by Finova Capital Group, which claims it is owed $93,000; Bloomsburg Mills, $47,250; Jon Kaufman Button Co., $47,000; Sekota Paper, $40,917; Rosenthal & Rosenthal, $37,000; and HSBC/Republic Business Credit, $28,000.
Alan D. Halperin, counsel to the petitioners at Halperin & Associates, said Travis has until 20 days after the filing to dispute the petition or convert the filing to a Chapter 11 bankruptcy or Chapter 7 liquidation. He said he could not comment on the Donnkenny sale. Calls to Travis’s offices indicated that the phones had been disconnected.