Gissing North America files Chapter 11 bankruptcy in Michigan court

By Sarah Lizee

Olympia, Wash., Aug. 8 – Gissing North America LLC filed Chapter 11 bankruptcy in the U.S. Bankruptcy Court for the Eastern District of Michigan on Monday.

In its petition, the company reported $50 million to $100 million in assets and $50 million to $100 million in liabilities.

Its largest unsecured creditors are Tesla, based in Palo Alto, Calif., with a $3.52 million vendor payments and customer contributions claim, Techstyles Inc., based in Bingham Farms, Mich., with a $1.98 million trade debt claim, Stein Fibers Ltd., based in Cincinnati, with a $1.74 million trade debt claim, and Drake Extrusion, based in Charlotte, N.C., with a $1.58 million trade debt claim.

The debtor’s counsel is Wolfson Bolton pllc, and its financial adviser is Riveron.

The Bingham Farms, Mich.-based company is a manufacturer of acoustic systems for the automotive industry. The Chapter 11 case number is 22-46160.

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