BestFit Dentures started to file for bankruptcy in February, but failed to submit all the required paperwork, according to the United States Bankruptcy Court, Southern District of Ohio. Court records show the company filed again March 14, and has a meeting of creditors scheduled for May 8.
Weideman said she talked to the Dayton Better Business Bureau, and Ohio Attorney General Mike Dewine’s office, and plans to file paperwork about her loss with the bankruptcy court.
A clerk with the court said the company filed for Chapter 7 bankruptcy with a no asset for disbursement claim, which means the chance of Wiedeman, or any other customers, getting money back, is slim.
The March bankruptcy filing lists Wiedeman and over 150 additional customers as creditors in the case.
BestFit listed assets of $320,872 and liabilities of $483,806 in its Chapter 7 liquidation bankruptcy petition.
The largest liability listed in the bankruptcy documents was a secured claim by Huntington National Bank for $431,455. Most of the company’s $52,351 in unsecured claims related to unpaid advertising bills, although the filings also said the company owed $5,000 in unpaid rent.
In its listing of assets, BestFit noted that it “No marketable inventory” in stock – because “all products are custom-made.” The company also indicated its patient list had no monetary worth because, “Most patients are one-time patients and generally do not result in repeat business.”
McGuire issued this statement through his attorney, “The bankruptcy trustee has the authority to liquidate the company’s assets. If the trustee generates funds from liquidating assets, the trustee will use those funds to pay back some or all of the company’s creditors. If the trustee is going to disburse funds to creditors, you will receive a notice from the trustee in the future advising you to file a “Proof of Claim” with the bankruptcy court.”
John North, president and CEO of the Better Business Bureau in Dayton, said there are ways customers can help protect themselves. Don’t pay for services up front, and use a credit card to receive the extra protections that those companies provide, North said.
“If you do find out that the company has filed for bankruptcy, you need to make sure that you have a claim and any resolution that may come out of that, so you need to contact the clerk of the bankruptcy court,” North said.
To file a complaint against a business with the Ohio Attorney General’s office, visit the website www.ohioattorneygeneral.com or call (800) 282-0515. To file a complaint with the Dayton BBB visit www.bbb.org/dayton or call (937) 222-5825.