Altmeyer Home Stores files for Chapter 7 bankruptcy
Altmeyer Home Stores has voluntarily filed for Chapter 7 bankruptcy.
Owner Robert Altmeyer in mid-June announced that Altmeyer’s Bed, Bath and Home Store in Point Plaza would close, but he said at that time that it was due to another vendor renting his space in the plaza and another space not being available.
Altmeyer also told the Eagle in June that his five other stores in the region would remain open, but apparently they will close in the bankruptcy filing. Altmeyer Home Stores is based in Westmoreland County.
The Point Plaza store recently offered deep discounts to customers to liquidate stock.
A sign on the door Friday evening read, “This store is temporarily closed.”
Documents filed on July 10 at U.S. Bankruptcy Court for the Western District of Pennsylvania in Pittsburgh reveal that Altmeyer had estimated liabilities of $100,001 to $500,000, and the same amount of estimated assets.
The documents also state that Altmeyer has 100 to 199 creditors, and that no prior bankruptcy cases have been filed against Altmeyer in the past eight years.
Chapter 7 bankruptcy allows a company to liquidate assets to pay debtors as opposed to other types of bankruptcy methods that allow companies to reorganize.
Altmeyer could not be reached for comment on Friday.
