Boat-repo company files for bankruptcy

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T&G Boat Sales and Recovery LLC filed for Chapter 7 bankruptcy protection in New Jersey, according to court documents filed on March 8.

The company, located in Edgewater Park, N.J., lists between $0 and $50,000 in assets and as much as $500,000 in estimated liabilities. Other names the business has used in the last eight years include T&G Boat Sales and T&G Boat Sales and Marine Services.

Court documents show the estimated number of creditors as being between one and 49.

On its website, T&G describes itself as the “leading recovery and liquidation company of the Northeast.”

“T&G Boat Sales offers a wide range of incredible repossessed and brokerage boats on the market,” according to the website. “We have been recognized as one of the leaders in the marine repossession industry.”

Comments

2 comments on “Boat-repo company files for bankruptcy

  1. boat loan pro

    According to the US BK COURT NEW JERSEY IT LOOKS LIKE ONLY ONE OR TWO CREDITORS-INDIVIDUALS, NOT COMPANIES WEBSITE LISTS OLDER, SMALLER TRAILER BOATS. THEY PROBABLY BELLIED UP ON THEIR BUSINESS LEASE OR A PERSONAL BUSINESS LOAN OF SOME TYPE.

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