November 25, 2009
Inglewood Appointed as Financial Advisor in Inkstop Chapter 7 Bankruptcy
Inglewood Associates has been appointed as the financial advisor for the Trustee, MaryAnn Rabin, Esq., in the Chapter 7 liquidation of InkStop, Inc. InkStop, an office supplies retailer that at one time operated over 160 stores in 14 states, abruptly ceased operations on October 1, 2009. The Company closed all stores and terminated its employees as it was unable to fund its payroll that day. InkStop subsequently filed for liquidation on November 5, 2009. Its bankruptcy petition listed over 1,000 creditors and total debts of almost $50 million.
As financial advisor to the Trustee and her counsel, Colette Gibbons of Schottenstein, Zox and Dunn, Inglewood Appointed as Financial Advisor in Inkstop Chapter 7 Bankruptcy, Inglewood is to assist in oversight of the inventory liquidation sale, maximize recovery of value from corporate assets, analysis of claims filed against InkStop, and determine whether the estate has any claims of its own that could provide value for the Company’s creditors.