Wisconsin Flag Company Files For Bankruptcy

Posted Friday, July 6, 2012 --- 8:40 a.m.

MADISON, Wis. (AP) -- A Wisconsin flag company has filed for bankruptcy.

Reedsburg-based Liberty Flag & Specialty filed about a week before the July 4 holiday and a few days after it lost a quarter-million-dollar judgment to a supplier.

The Wisconsin State Journal reports (http://bit.ly/NbjIlW ) the company has been in business for nearly 30 years.

The company filed for bankruptcy on June 25. It owes its 20 largest creditors a total of $577,809, according to a list with its bankruptcy petition. The petition says the company has less than $50,000 in assets.

Liberty's president, David Gonzalez, says he and his wife intend to stay in business.

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Information from: Wisconsin State Journal, http://www.madison.com/wsj

Copyright 2012. The Associated Press.


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