A few weeks ago Whispers reported on a farmer in Mississippi County who filed for Chapter 7 bankruptcy protection and had debts of more than $1 million.
Well, we now have a few more details about the case of Jim Ed Robins LLC of Manila, along with information about the personal bankruptcy filing of Jim Ed Robins, who listed many of the same debts as his namesake company, according to the files in U.S. Bankruptcy Court in the Eastern District of Arkansas.
Robins incorporated the LLC in 2000.
The LLC’s debts are listed at $1.06 million with assets of only $100.
The company owes nearly all of the debt to Farm Credit Midsouth of Jonesboro.
The LLC reported generating gross revenue of $700,000 in 2014 and $706,000 in 2015. In 2016, Jim Ed’s revenue was $606,000.
In Jim Ed Robins’ personal bankruptcy, he listed assets of $1.1 million and debts of $1.04 million. Jim Ed Robins’ income was $50,000 last year.
Robins and his company are being represented by bankruptcy attorney Jeannette Robertson of Jonesboro.
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