Luxury appliance retailer Pirch has filed for Chapter 7 bankruptcy, according to court records filed in U.S. Bankruptcy Court.
The San Diego County-based company with locations in Costa Mesa, Mission Viejo, Glendale, Rancho Mirage and San Diego filed for bankruptcy on Friday, two days after it gave notice to employees that it was shutting down for good.
Also see: Pirch sued by American Express for $33M over disputed transactions
In its filing, Pirch estimated it has 1,000 to 5,000 creditors and liabilities of $100 million to $500 million. It listed its assets at $10 million to $50 million.
Based on interviews with vendors, former employees, customers a and court filings, creditors could include a combination of landlords, individual customers, vendors, merchants the company was doing business with, and unpaid bills that may have accumulated while operating the business.
Also see: Pirch files layoff notice after abruptly closing stores and ghosting customers
In a Chapter 7 bankruptcy, the most common type of bankruptcy, the debtor sells non-exempt assets and then uses the proceeds to pay its creditors. The company indicated in its filing that it would have funds to disperse.
The retailer halted operations in late March, leaving customers with unfulfilled orders, landlords with unpaid rent, vendors with unpaid merchandise and other business stakeholders with money owed, according to court filings.
Earlier this month, American Express sued Pirch for $33 million.
It is also been sued by landlords, customers, high-end appliance maker Sub-Zero and credit and debit card processor Worldpay.
Employees have filed complaints with the state regarding the company’s layoff practices, and at least two customers have asked for criminal inquiries.
San Diego Union-Tribune staff writer Alex Riggins contributed to this report.
