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Audioplex files for Chapter 7 protection




Audioplex Technology Inc., plans to liquidate $260,000 in inventory after it filed for Chapter 7 bankruptcy last week, according to published reports.

The maker of multi-room audio products listed nearly $802,000 in assets and $625,000 in liabilities, including $454,000 in secured claims by Bayview Loan Servicing, holder of two mortgages on Audioplex’s Tuftonborough facilities, according to CE Pro magazine, which focuses on the custom electronics business.

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Information about the filing also was posted by businessbankruptcies.com.

The other three major creditors are two credit card companies ($86,000) and the law firm of McLane, Graf, Raulerson & Middleton ($28,000), the magazine said.
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Audioplex inventory to be liquidated included speaker selectors, wallplates and volume controls.

Company principals listed in the Chapter 7 filing are Ronald and Nancy Ingham, according to the magazine.
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