PR Advertising Agency Files Chapter 7 Bankruptcy in Kentucky

Written by CFB Blogger. Posted in Blog

Meridian-Chiles, a public relations and advertising agency located in Lexington, Kentucky, has recently filed for Chapter 7 bankruptcy in United States Bankruptcy Court in Lexington. Bankruptcy documents show $676,324 in assets and almost $5.2 million in liabilities. According to a news account by Cheryl Truman for www.kentucky.com, the bankruptcy petition states that Lawrence Chiles, Chairman of the Board, is the sole owner of shares of the company. Meridian Communications merged with Jordan-Chiles Advertising in 2008, forming one of the top five advertising firms in The Bluegrass State. At that time the company’s annual billing was $10 million to $12 million. Thomas Johnson, who holds a $375,000 claim against the company, is the sole secured creditor listed in bankruptcy documents. Creditors holding unsecured claims include Central Bank, Clear Channel radio, Fortune Business Centre, IMG College, Lexington Herald-Leader, Time Warner Cable Media, WHAS-TV, WKYT-TV, WLEX-TV and WTVQ-TV. Lawrence Chiles is also listed as a creditor with an approximately $32,630 in un-reimbursed business expenses. Lawrence and Jane Chiles are listed as creditors with a $312,647 loan to the business. The bankruptcy petition was filed under the name Jordan-Chiles Inc., but noted that the company had done business as Meridian-Chiles and Meridian Chiles Communications. For experienced and knowledgeable Chapter 7 or Chapter 13 personal bankruptcy assistance, you can rely on the attorneys from Client First Bankruptcy who have helped thousands of pleased clients discharge their crushing debt. For your free initial consultation, please call our knowledgeable and compassionate lawyers toll-free at 800-383-6004.  We answer our phones Monday-Friday from 8:30 a.m. – 6:00 p.m.  You can also log onto www.clientfirstbankruptcy.com for vital and timely bankruptcy information 24/7 so you can get the information you need at your convenience. Give us a call today; we may be able to turn your financial woes into financial success. You and your family deserve a secure future.