ERC Manufacturing Inc. files for Ch. 11 bankruptcy protection
The Puerto Rico-based contractor cites $2 million in debt.
ERC Manufacturing Inc., a general contractor with 22 years of experience in the federal and private marketplace, has filed for Chapter 11 bankruptcy protection, citing nearly $2 million in debt.
The company, which specializes in mechanical/heating, ventilation and air conditioning and electrical work, has provided services in Puerto Rico and the U.S. Virgin Islands.
In its filing, ERC reported owing more than $1 million to unsecured creditors, with the largest portion — nearly $630,000 — owed to the U.S. Small Business Administration (SBA).
The company also owes $256,288 to secured creditors, including Banco Popular de Puerto Rico, and $260,000 to three priority creditors: the Treasury Department, the Internal Revenue Service, and the Municipality of Naranjito, where the company is based.
ERC, which now has the opportunity to reorganize its finances under court supervision, also offers services in pest control, administrative support, janitorial services and promotional items, according to its website.
The company’s bankruptcy filing lists $785,322 in real and personal property.
