GVS Texas files bankruptcy following parent company’s case dismissal

By Sarah Lizee

Olympia, Wash., June 18 – GVS Texas Holdings I, LLC and some of its affiliates filed Chapter 11 bankruptcy on Thursday in the U.S. Bankruptcy Court for the Northern District of Texas.

Notably, GVS Texas Holdings I is an indirect subsidiary of GVS Portfolio I B, LLC, which does business as Great Value Storage and filed bankruptcy on April 12. Great Value’s case was dismissed on June 4 by the U.S. Bankruptcy Court for the District of Delaware, which said the case was filed in bad faith.

In its petition, GVS Texas Holdings I listed $100 million to $500 million in both assets and liabilities.

Its largest unsecured creditor is the Ohio Department of Taxation, based in Columbus, Ohio, with a $1.29 million sales taxes claim. No other creditors were listed with unsecured claims of $1 million or more.

No other information was available as of Friday afternoon.

Austin, Tex.-based Great Value is a storage chain. GVS Texas Holdings I’s Chapter 11 case number is 21-31121.

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