Updated: True Value’s claims report
The latest Proof of Claims Report from True Value Company’s Chapter 11 bankruptcy case describes 495 total claims from creditors—and growing
The claims add up to $$72,899,889.93 so far (as of Nov. 1). The vast majority of that sum comes from the unsecured class of creditors.
Of the 679 claims, the typical claim is in the $100,000 neighborhood. The smallest amount for a claim appears to be Springfield, Illinois-based Lawn & Garden Products —$170.24 for “goods sold.”
There are more than twenty claims of above $500,000. Here is a list:
• Thermwell Products; Mahwah, N.J.; $1,827,231.40
• Inliten, LLC, Glenview, Ill.; $1,800,645.82
• Ademco Ind (Resideo Technologies); Golden Valley, Minn.; $1,777,850.01
• Reliance Worldwide Corp (Sharkbite); Atlanta, Ga,; $1,359,052.10
• PPG Architecural Finishes; Cranberry Twp., Pa.; $1,099,536.37
• Imperial Manufacturing Group; Alton, Ill.; $1,088,669.13
• Larsen Supply Co.; Santa Fe Springs, Calif.; $1,031,813.83
• Forney Industries; Fort Collins, Colo.; $985,413.86
• Louisville Ladder; Louisville, Ky.; $869,639.00
• Richelieu Americal; Mt. Clemens, Mich.; $843,301.81
• Swift Response (Flex Seal); Weston, Fla.; $819,245.42
• Midland Industries; Kansas City, Mo.; $783,732.32
• Intradin HK Co.; Hong Kong; $757,986.22
• Culligan International; Rosemont, Ill.; $698,982.96
• Wholesale Building Products; Hollywood, Fla.; $681,515.8
• WM Barr and Company; La Grande, Ore.; $676,026.51
• Fluidmaster; San Juan Capistrano, Calif.; $661,856.63
• Haulotte US; Virginia Beach, Va.; $652,502.59
• Allied Tube and Conduit; Harvey, Ill.; $617,857.48
• Lasko Products, West Chester, Pa.; $593,490.07
• Duravent Group*; Grand Rapids, Mich.; $571,830.70
• Freudenberg Filtration Technologies; Detroit, Mich.; $567,609.11
• Jonathan Green & Sons; Farmingdale, N.J.; $531,346.72
• Lawn & Garden LLC; Atlanta, Ga.; $530,490.24
(*Note: The Duravent Group, an HVAC and climate control company, submitted three separate claims, each for the same $571,830.70.)
Other claims of note from the report include a claim of The Rosen Plaza Hotel of Orlando, Florida submitted a claim of $119,182.03 for “Conference with Room Charges, Food and Services Rendered.” True Value held its dealer market in Orlando in early September.
Also, the North American Hardware & Paint Association submitted a claim of $153,200 for “online training programs, group membership and RMCP scholarship.”
The report also lists one creditor in the secured class: Uriah Products of Springfield, Mo. The trailer hitch and after market trailer parts company submitted a claim secured by a lien on property for $283,921.85, according to the report.
The claims create a backdrop to the evolving story of Do it Best’s plan to acquire True Value out of Chapter 11 bankruptcy protection. True Value informed vendors that it will continue to order goods and services during the process. “Our vendor relationships remain essential,” the company said.
In the same notice, True Value advised: “Payment of allowed prepetition claims will be determined at a later date. At this time, we do not know the recovery for, or distribution to, holders of any such claims and therefore cannot speculate on the amount that would be paid.”
