National Service Industries Inc., an Atlanta-based company that provides linens to the health-care, lodging and restaurant industries, filed for bankruptcy saying it will liquidate.
The company listed assets of less than $500,000 and debt of as much as $100 million in Chapter 7 documents filed today in U.S. Bankruptcy Court in Wilmington, Delaware. Chapter 7 proceedings let companies liquidate their assets while being protected from creditors.
“The board has determined that it is in the best interest of the company, its creditors, and other interested parties to file a voluntary petition for relief under Chapter 7,” the company said in a corporate document filed with the court.
The case is In re National Service Industries Inc., 12-12057, U.S. Bankruptcy Court, District of Delaware (Wilmington).