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Fri November 16, 2012
Three Jones-Owned Companies File for Chapter 7 Bankruptcy
Three more companies owned by Murray businessman Chuck Jones have entered into bankruptcy proceeding.
Jones’ joint venture with business partner David Griffin, Blackrock Investments, LLC, filed for Chapter 7 bankruptcy Monday in Nashville. On Oct. 27, Integrated Computer Solutions and Southeastern Book Company, also filed for Chapter 7, in Paducah Bankruptcy Court. Chapter 7 means that the companies will liquidate and eliminate most unsecured debts.
The two Murray-based companies claim between $1 million and $10 million in liabilities, and less than $50,000 in assets. Blackrock Investment claims between $500,000 and $1 million in liabilities. The companies owe money to dozens of businesses and individuals spread across several states.
On Oct. 4, College Book Rental company entered into Chapter 11 bankruptcy protection. That company continues to operate with a reduced staff.
Griffin is also suing Jones to recover some of his millions of dollars of investments in the Murray-based companies.
Developing: Chuck Jones Lawsuit