Kingston electrical company in bankruptcy

McKinley Electric Inc. of Kingston filed for Chapter 7 bankruptcy last month.

The company listed $172,000 in assets and $709,000 in liabilities on a voluntary petition submitted May 19 in U.S. Bankruptcy Court Western Washington District. McKinley owed $310,000 to the Internal Revenue Service, according to the filing.

The business phone for McKinley is no longer active. The company employed more than 20 electricians, according to its website.

Also emerging in bankruptcy court this spring was Boulder Glen LLC. of Bainbridge Island. Boulder Glen filed for Chapter 11 reorganization on April 25, and re-filed May 16. The company listed between $1 million and $10 million in assets and the same in liabilities.

Directors of Boulder Glen are defendants in a foreclosure proceeding related to a $700,000 loan issued by now defunct Westsound Bank, according to Kitsap County Superior Court documents.

You can read about other recent Kitsap bankruptcy filings here.

 

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