CONN CORP LLC Bankruptcy Filing

CONN CORP LLC Filing Information

CONN CORP LLC filed for Chapter 11 bankruptcy on October 11, 2024, with case number 24-03563. The corporation, based at 810 Carter St., Rocky Mount, NC, has initiated this process to restructure its financial obligations. As the debtor in this matter, CONN CORP LLC will be subject to the oversight of Judge Pamela W. McAfee and the North Carolina Eastern Court. Chapter 11 bankruptcy provides a framework for the company to develop a plan to repay creditors while also addressing any underlying operational or financial issues that led to its financial distress. The filing of this bankruptcy case marks a significant development in CONN CORP LLC's efforts to navigate its current financial challenges and emerge as a more sustainable entity.

Conn Corp LLC has filed for bankruptcy, with the company's assets ranging from $1 million to $10 million. According to court documents, Conn Corp is a lawn and garden equipment and supplies store, indicating that its business model is centered around selling products related to outdoor gardening and maintenance. The company had 50-99 creditors, who will be entitled to receive payment from the estate following the bankruptcy proceedings. As part of its financial disclosure, Conn Corp reported liabilities in the same range as its assets, suggesting a relatively manageable debt burden. Despite these details, the exact cause and scope of Conn Corp's insolvency remain unclear.

CONN CORP 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.