DAYTON, Ohio -- Charlie's 76 Plaza Inc., which also does business as Charlie's Marathon in Moraine, Ohio, filed for Chapter 11 protection in U.S. Bankruptcy Court in southern Ohio last Wednesday, according to a report by the Dayton Daily News.
The fuel station valued its assets at between $500,001 and $1 million, and its liabilities at $1 million to $10 million, the report added.
It listed approximately 30 creditors.
The Dayton, Ohio-based company's owner, Charles E. Culp Sr., could not immediately be reached for comment by the newspaper, it said.
State liens have been filed in Montgomery County against Charlie's 76 Plaza, said the report.
Chapter 11 filings allow a business to rehabilitate or reorganize while still operating through a court-approved reorganization plan. The action frees a company from the threat of creditors' lawsuits while it reorganizes its finances.
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