By RC BALABAN, Courier Staff Writer
WATERLOO — Evans Furniture, which closed its Waterloo location a few months ago, has filed for bankruptcy.
The move has been expected for some time, as the attorney general’s office said in August it expected the company to make such a filing.
Evans Furniture abruptly closed its Waterloo store in June, leaving many customers with questions about furniture orders. The company also had a store in Davenport, where it was headquartered. That store closed also closed.
In its bankruptcy filing, Evans listed $81,600 in assets and more than $289,000 in liabilities. According to its bankruptcy filing, the company has inventory sitting at both locations, but the company has been unable to access its inventory in Waterloo. Evans Furniture has been locked out of its building. Some of its inventory at its Davenport location has been stolen.
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Investigators with the attorney general’s office concluded in August that Evans Furniture’s collapse was a business failure and not a fraud.
“To the best of our knowledge, they intended to deliver this furniture,” said Bob Brammer, spokesman for the attorney general’s office.
He said if people have evidence to the contrary, they are encouraged to contact the attorney general’s office.
According to a notice sent out by the bankruptcy court, creditors, meaning people owed money or furniture by Evans Furniture, should not file a proof of claim with the court at this time. The notice will be sent out to all Evans Furniture creditors, including consumers who have claims against Evans Furniture.
“There does not appear to be any property available to the trustee to pay creditors,” the notice read. “You therefore should not file a proof of claim at this time. If it later appears that assets are available to pay creditors, you will be sent another notice telling you that you may file a proof of claim and telling you the deadline.”
The attorney general’s office will share with the bankruptcy court its list of consumer-creditors who have filed complaints with its office. Creditors who have not received the notice of bankruptcy by Oct. 6 and believe they should have received one can contact the bankruptcy court at (515) 284-6230.
A meeting of Evans Furniture creditors will be at 1 p.m. Oct. 24 at Kahl Educational Center, 326 W. Third St., Davenport. Creditors are welcome to attend, but are not required to do so. A representative from Evans Furniture will be on hand to be questioned under oath by the trustee and by creditors.
Brammer said those who paid for furniture or other goods from Evans Furniture with a credit debit card are encouraged to dispute the transaction.
Contact RC Balaban at (319) 291-1418 or rc.balaban@wcfcourier.com.
