February 1, 2016
Maine water producer files for bankruptcy
A Peru-based bottled water producer is seeking Chapter 7 bankruptcy amid a dispute with a lender.
According to The Bangor Daily News, Carrabassett Valley Spring Water LLC’s submitted bankruptcy filings claim the company has $100,00 in assets and liabilities of $950,000 — $570,000 of which comes from a disputed business loan from a Connecticut company, which was not named in the story.
That debt is the subject of a pending collection lawsuit at Maine’s Business and Consumer Court.
Carrabassett Valley Spring Water markets its water as coming from an all-natural spring from mountains nearby the Carrabassett Fault and provides a private label bottle that allows other companies to design their own logo for marketing events.
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