Burkhalter files Chapter 11 bankruptcy
Columbus, Mississippi based crane a rigging company Burkhalter Rigging has filed for Chapter 11 restructuring in a Texas court.
According to court records the company owes the top 20 unsecured creditors more than $4.3 million, and has between 200 and 999 creditors in total. It has until March 16th to file schedules listing all debts outstanding to creditors. Creditors have until May 29 to file claims. An earlier petition from three creditors to force the company into Chapter 7 liquidation was withdrawn after the company filed for Chapter 11.
Burkhalter will appoint a chief restructuring officer who will work with the creditors, develop a budget and work with company management to produce a plan to restructure the business.
Burkhalter was founded in 1973 and is owned by a third generation family member Delynn Burkhalter. It operates from its base in Columbus and a second location in Rosharon, Texas.