Boat-repo company files for bankruptcyPosted on
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.”