The collapse of the residential construction market claimed another victim last week as Chase Western Custom Cabinets Inc. filed for Chapter 7 liquidation in U.S. Bankruptcy Court in Reno.
Chase Western had found a profitable niche making custom cabinets from its 30,000-square-foot production warehouse at 879 Deming Way in Sparks.
The company, which employed 70 in the boom year of 2004, posted $5.44 million in revenues in 2007 but revenues plummeted to just $45,678 so far this year, it said in its filing in U.S. Bankruptcy Court in Reno.
The company's assets total $454,761, mostly in machinery. Its unsecured debt totals $425,622, and its secured debt totals $543,000, with First Independent Bank of Nevada the single-largest debt holder.
Attorney Stephen Harris of Reno represents Chase Western, which is co-owned by Brett and Kim Zunino.
