Back in June, Louisiana Fire Extinguisher, a Baton Rouge-based provider of fire safety equipment and services, filed for bankruptcy.
So, how is the company doing a few months down the line?
CEO Kristina Fleming tells Daily Report that Louisiana Fire Extinguisher is doing “really well” following its restructuring efforts and that there are no plans to shut the business down.
“Our vendors will be paid back at 100 percent starting in January,” she says. “We’re moving right along.”
Fleming says the company’s clients haven’t experienced any disruptions as a result of its bankruptcy proceedings and that not a single employee has been laid off. In fact, the business has actually added two members to its team since it filed for bankruptcy.
When the company filed for Chapter 11 protection on June 17, it reported estimated assets between $1 million and $10 million and estimated liabilities within the same range, according to documents filed with the U.S. Bankruptcy Court for the Middle District of Louisiana. It also indicated that it had between 50 and 99 creditors.
Headquartered on Athens Avenue near South Choctaw Drive, Louisiana Fire Extinguisher is a family-owned business that got its start in 1949. The company describes itself as a “one-stop shop” specializing in the installation, inspection and repair of fire safety products and systems—alarms, sprinklers, extinguishers and the like.