A group of creditors wants to force Hackett's Hardware chain out of business by Chapter 7 Bankruptcy.
Six creditors filed an involuntary bankruptcy petition this week in U.S. Bankruptcy Court. They say Hackett's owes them a total of $1.6 million.
A Chapter 7 bankruptcy would lead to liquidation of Hackett's asserts, with the creditors collecting some or all of the money they are owed.
The petitioners are:
- Sketchers, USA, Inc., which says it is owed $27,000
- K-2 Sports, allegedly owed $36,200
- Deckers Outdoor Corp., allegedly owed $74, 477
- Columbia Sportswear, allegedly owed $500,000
- wool rich, Inc., allegedly owed $260,000
- The North Face - VF Outdoor Inc., allegedly owed $657,000
Hackett's, founded and based in Ogdensburg has grown rapidly in recent years, with up to nine outlets in the North Country before announcing store closings this spring in Watertown and Pulaski.
Company officials said they having trouble repaying a $5 million line of credit.
The bankruptcy petition was filed in the Utica branch of federal bankruptcy court on Tuesday.
It is now awaiting a response from Hackett's.
