CHANNEL CONTROL MERCHANTS OF CALIFORNIA, LLC Bankruptcy Filing
Case Number: 24-12324
CHANNEL CONTROL MERCHANTS OF CALIFORNIA, LLC filed a 11 chapter bankruptcy in the District of Delaware bankruptcy court on October 10, 2024. This is a voluntary filing; it was assigned the bankruptcy case number #24-12324.
CHANNEL CONTROL MERCHANTS OF CALIFORNIA, LLC Filing Information
The bankruptcy petition for CHANNEL CONTROL MERCHANTS OF CALIFORNIA, LLC showed assets in the range of $100MM - $500MM with liabilities in the range of $100MM - $500MM. CHANNEL CONTROL MERCHANTS OF CALIFORNIA, LLC reports that the number of creditors is in the range of 200-999.
The debtor indicated their nature of business as 'None of the Above'. The nature of business option is fairly limited; most companies will chose 'None of the Above'. The options include: 'Health Care Business', 'Single Asset Real Estate', 'Railroad', 'Stockbroker', 'Commodity Broker', 'Clearing Bank', or 'None of the Above'.
CHANNEL CONTROL MERCHANTS OF CALIFORNIA, LLC has filed for bankruptcy, marking a significant milestone in the company's financial struggles. The assets of the company, which have not been specified, will be distributed among its creditors. Notably, the exact number of creditors involved in the case has not been disclosed. The liabilities, which include debt obligations and other financial commitments, range from an unspecified amount. As a merchant services provider, CHANNEL CONTROL MERCHANTS OF CALIFORNIA, LLC operates within the payment processing industry, catering to businesses and individuals seeking financial solutions. With this bankruptcy filing, the company's future is uncertain, leaving its stakeholders to navigate the complex process of reorganization or liquidation.
CHANNEL CONTROL MERCHANTS OF CALIFORNIA, LLC indicated on its bankruptcy petition that it does not expect there will be sufficient assets in the estate to make a payment to the unsecured creditors. This is a bad sign for creditors as it implies that no recovery is likely.
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CHANNEL CONTROL MERCHANTS OF CALIFORNIA, LLC Docket Header
PlnDue, DsclsDue, CLMSAGNT, JNTADMN |
District of Delaware (Delaware)
Bankruptcy Petition #: 24-12324-TMH
Assigned to: Bankruptcy Judge Thomas M Horan Chapter 11 Voluntary Asset |
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| Debtor Channel Control Merchants of California, LLC 6892 US Hwy 49 North Hattiesburg, MS 39402 FORREST-MS Tax ID / EIN: 45-4509011 aka Channel Control Merchants aka Dirt Cheap aka Treasure Hunt aka Dirt Cheap Building Supplies |
rep. by |
Andrew L Magaziner
Young Conaway Stargatt & Taylor, LLP Rodney Square 1000 North King Street Wilmington, DE 19801 302-571-6600 Email: amagaziner @ ycst.com |
| U.S. Trustee U.S. Trustee Office of the United States Trustee J. Caleb Boggs Federal Building 844 King Street, Suite 2207 Lockbox 35 Wilmington, DE 19801 (302)-573-6491 |
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| Claims Agent Epiq Corporate Restructuring, LLC www.epiqsystems.com 777 Third Avenue, 12th Floor New York, NY 10017 646-282-2500 |