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Article: Car wash closes, owners petition for bankruptcy
- Article from:
- Journal of Business
- Article date:
- August 17, 2006
- Author:
CopyrightCopyright Northwest Business Press Inc. Aug 17, 2006. Provided by ProQuest LLC. (Hide copyright information)
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A Spokane couple who owned one of two Inside-n-Out Car Wash facilities here have closed that outlet and have filed personally for protection from creditors in U.S. Bankruptcy Court.
In their Chapter 7 filing here, the couple, Jeff and Lisa Cushman, list assets of $17,000 and liabilities of more than $1 million, including business-related debt. About $700,000 of the couple's liabilities is owed to creditors with unsecured nonpriority claims, court documents show. The largest of those claims related to the carwash business, at $638,600, is held by Spokane-based Adept Escrow Inc., the documents show.
The Cushman's business, Car Wash Enterprises, bought its operation at 9412 N. Newport Highway ...