ESCO Files for Bankruptcy
ESCO Files for Bankruptcy
Jason Sandefur
Electronic component and fastener distributor ESCO LLC filed an involuntary petition for Chapter 11 bankruptcy in Federal District Court in Santa Ana, CA. The principal creditor in the case is San Francisco-based Tangent Fund Management II LLC, which filed an unsecured claim of $15,000 in the case, court documents state. Other creditors include Office Depot, which filed an unsecured claim of $4,401.13.
Preliminary court documents offer few details about the filing. Federal Bankruptcy Judge Robert W. Alberts signed an order on Jan. 19 sealing any potential settlement agreements between ESCO and creditor Tyco Electronics of Wilmington, DE.
ESCO is a 40-year-old company that began as Electronic Supply Co. Lake Forest, CA-based ESCO operates branches in Dallas, Houston, Denver, Phoenix, San Diego, San Jose, CA, Seattle, and Portland, OR. The company carries a range of fasteners from such notable companies as Bossard, Camcar, Chicago Rivet, ITW Shakeproof, Long-Lok Fasteners, N-D Industries, Nylok Corp. Southco Fasteners and Tinnerman. Web: escollc.com �2005 FastenerNews.com
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