A Nashville (Howard County) timber firm has filed for Chapter 11 bankruptcy reorganization, listing $2.1 million in debt.
Ray Rogers Timber Co. reported $1.3 million in assets in its June filing in U.S. Bankruptcy Court in the Western District.
The company reported $4.5 million in revenue in 2015, but that fell to $4.2 million a year later.
It had $1.1 million in revenue through the first part of June of this year.
Owned by E. Ray Rogers, the company lists debts of $1.15 million to First State Bank of De Queen and $345,000 to Southern Bancorp Bank of Arkadelphia, according to the filing. Those claims are secured.
The company’s attorney, Rufus Wolff of Little Rock, didn’t return a call for comment.
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