Austin Plumbing Supply files for bankruptcy, leaving a long trail of debts
A North Austin plumbing supply company that closed its doors earlier this month without notice has filed for bankruptcy, leaving customers with little hope they'll ever see the special-order bathroom and kitchen fixtures they paid for in advance.
In its Chapter 7 filing, Austin Plumbing Supply reported that it had between 200 and 999 creditors and liabilities of between $1 million and $10 million.
The company has assets worth $500,000 or less, according to court documents.
The filing in U.S. Bankruptcy Court in Austin included a 30-page list of creditors, including vendors, residential customers, builders, remodelers and the Travis County tax assessor.
Austin Plumbing Supply owes $18,494.75 in 2010 property taxes, plus $2,774.21 in penalties, according to the tax assessor. It owes another $12,003.79 in taxes on business equipment and supplies, as well as $1,800.58 in interest and late fees.
The bankruptcy filing will stop — at least for now — the county's collection efforts.
The list also included Mercedes-Benz Financial, Austin television stations KBVO and KEYE, AT&T Yellow Pages and the Small Business Administration.
William W. Sullivan Jr. and Terri M. Sullivan own the store, at 5520 Burnet Road, under the corporate name New Austin Plumbing Supply.
No one answered the phone at the couple's West Austin home Tuesday, and a recording indicated their voice mail was full and no longer accepting messages. The Sullivans also did not return calls from the Statesman earlier this month, after the store suddenly closed its doors.
A telephone message and email to the attorney listed on the bankruptcy filing, John Alvis of San Marcos, also were not returned.
The Chapter 7 filing indicates that Austin Plumbing Supply has no plans to reopen, according to Philip DeHart, a local bankruptcy attorney not involved in the company's filing.
"When a business files Chapter 7, it generally means they're winding things down and distributing any assets that are available," DeHart said. "They're kaput."
DeHart says a trustee should be appointed to oversee the disposition of assets, with any proceeds going to creditors. Government agencies and secured creditors such as mortgage lenders typically have priority over unsecured creditors, such as customers.
Randall Banks is among the listed creditors. He spent about $1,000 in mid-May on a tub and sink that have yet to be delivered. Banks says he paid with a check, which was cashed.
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