RPM’s owner, Jeffrey N. Caldwell, died Monday, Aug. 24. He was the only person who had check-writing authority with RPM, according to an Aug. 26 filing in U.S. Bankruptcy Court.
RPM had filed for Chapter 11 bankruptcy protection in December as part of an effort to reorganize its business.
But last week, the office of the U.S. Trustee said a Chapter 7 filing is now more appropriate because there “is no reasonable likelihood of rehabilitation” of the business, and there’s been a failure to maintain appropriate insurance and pay taxes in a timely manner.
RPM is headquartered at 4794 S. Dixie Highway, Suite A.
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