West Sound Printing,
Inc. of Silverdale filed for
Chapter 7 bankruptcy last week.
The Clear Creek Road company listed $51,000 in assets and $381,000 in liabilities in a petition filed Jan. 29 with U.S. Bankruptcy Court for Western Washington.
West Sound Printing provided a wide variety of printed products, along with binding and design services, according to its website.
State records indicate the business has been inactive since early January.
A deal that
promised to put tiny grocery chain Haggen on the fast track to becoming a
regional power has instead resulted in a train wreck.
The Bellingham-based grocer filed for Chapter 11 bankruptcy protection Tuesday, saying it would sell off assets and reorganize around its profitable stores.
The move came after Haggen announced it would close or sell 27 of the 146 stores it acquired from Albertsons and Safeway (the closures didn’t include any of the three Kitsap County Haggen stores). Haggen also sued Albertsons for $1 billion claiming the grocery giant sabotaged Haggen’s expansion effort.
All of this leaves Haggen’s roughly 11,000 employees in an uncertain position. It’s likely more stores will be sold off as part of the reorganization.
Hours have been cut at some Puget Sound stores, the Seattle Times reported. The company owes employees $10 million in unpaid salaries, accrued wages and overtime pay, according to the Puget Sound Business Journal.
According to statements circulated Thursday by employee union UFCW 21, Haggen workers found out about the bankruptcy filing from news reports.
Below are two statements from UFCW 21 responding to the Haggen bankruptcy. The first was distributed to the media, the second was sent to employees by union president Todd Crosby:
“For years, hard-working men and women in grocery stores at Haggen’s have shown their commitment to their job, their co-workers, the community, and this union family.
“As difficult as this bankruptcy process is, our message to Haggen is simple – we expect Haggen to do what is right by their hard-working employees and their families. Haggen’s must never forget that these incredible men and women who do the work are the heart and soul of their stores.
“They are not numbers, but real people whose work and dedication should be honored. Looking ahead, our union family will do everything in our power to protect the livelihoods of every member who is and has been dedicated to meeting the needs of every Haggen’s customer.”
And the message from Crosby: Continue reading
The East Bremerton American Legion post, Poulsbo’s Courtesy Ford dealership, a historic Bainbridge house and several industrial properties were among the notable commercial real estate sales of January.
Overall, 17 parcels changed hands for a total of $14.11 million last month, according to assessor’s data. Here’s a look at a few high-profile transactions:
Sale
date: Jan. 7
Assessed value: $637,140
Sold by: 2010 1 CRE WA Retail, LLC., to The Filipino American Association of Kitsap
Description: A 9,000-square-foot building on 0.7 acres off Sheridan Road, just east of Wheaton Way in Bremerton.
Notes: The future of the property has been uncertain since American Legion Post 68 went bankrupt in 2011. Josh Farley will be following up on the Filipino American Association’s plans.
Sale
date: Jan. 5
Assessed value: About $2.3 million
Sold by: CBRA Inc. Custodial Receiver to Christopher and Laurie Morgan
Description: Three parcels totaling 4 acres, and a 40,000-square-foot former auto showroom on Viking Way in Poulsbo.
Notes: The family that owns American Building and Roofing on Viking Way bought the former Ford dealership from a court appointed receiver. Hudson Auto is leasing a portion of the property to expand its Poulsbo used car dealership. The Hern family closed Courtesy Ford in 2011.
The Kitsap Mall
RadioShack store could be a casualty of the
company’s bankruptcy filing.
The Silverdale location was among 2,000 listed on a store closure list posted on RadioShack’s corporate website (PDF). The electronics retail giant filed for chapter 11 bankruptcy protection last week and has already begun liquidating stores.
Kitsap’s other two RadioShack stores (Wheaton Way and Bethel Corridor) are not on the closure list.
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.
A year after closing, the former Emu Composting & Topsoil site in North Kitsap has been revived under new ownership.
The Ecology Road facility was purchased by the owners of Port Orchard-based New Day Recycling, and is now open as Olympic Organics. The company will provide compost and topsoil from grass, brush, manure, wood wastes and other materials, according to a news release.
“We want to continue to offer what Emu Composting did, but with our own spin,” founder Jeff West said.
Emu Composting owners filed for bankruptcy in late 2012 and closed the business in February 2013. The Wests purchased the property for $70,000 in December, according to county records.
For information on Olympic Organics, go to www.olympicorganics.net or call 360-638-0117.
A Silverdale truck bedliner company has filed for bankruptcy protection.
Line-X Silverdale filed for a Chapter 11 reorganization Thursday in U.S. Bankruptcy Court Western District of Washington. The Provost Road company listed $500,000 to $1 million in assets and the same amount in liabilities in its voluntary petition.
Listed debts included federal and county taxes. The company president did not return a call for comment Friday.
Giddymum’s LLC., the company behind Possum’s Boutique, filed for Chapter 7 bankruptcy Monday.
The company operated stores in Poulsbo, Gig Harbor and on Bainbridge Island between 2007 and 2012. Giddymum’s listed less than $50,000 in assets and more than $50,000 in liabilities in a court petition.
The 21 creditors include the City of Poulsbo, local companies, and state and federal agencies.
