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North American Builders Supply, Yorkville, Il., has filed for Chapter 11 bankruptcy protection to allow the business to reorganize.
The petition, filed Dec. 3 in the Illinois Northern Bankruptcy Court, lists the business as having $500,000 to $1 million in assets, and between $1 million and $10 million in liabilities, owed to fewer than 50 unsecured creditors. Among their largest unsecured creditor is Bluetape, Inc., an automated financing and payment service for the LBM industry.
Bluetape (owed $503,219) is one of several companies that have filed suit against the dealer in recent years, following filings by Premium Merchant Funding, Proventure Capital, Quaker Window Products, Sherwood Lumber, and Orgill.
North American Builders Supply sells lumber, windows, doors, millwork, cabinets, siding, decking, hardware, tools and commercial products, including metal studs, ceiling systems, windows, doors and drywall.
