Boardparadise, which operates 7 action sports stores in North Carolina, has been forced into involuntary Chapter 7 bankruptcy proceedings by three creditors claiming they are owed more than $785,000.
The petition was filed against Crossroad Sports Inc., the corporate name of Triad, NC. retailer, in the U.S. Bankruptcy Court for the Middle District of North Carolina, according to the Business Journal of the Greater Triad Area. The largest was The Burton Corp., which claims it is owed about $563,000.
Robert M. Weinstein, a Greensboro attorney representing the four creditors, told the business trade journal that Crossroad Sports has until Aug. 27 to respond, which the company had not done as of Wednesday.
The reported noted that as recently as last year, the company had 12 sites in the Carolinas.
