The doors at Avantair Inc. are shut to everyone except a court-appointed bankruptcy trustee.
A federal judge considering an involuntary Chapter 7 bankruptcy petition brought by Avantair creditors granted the interim trustee’s motion to prohibit access to the premises and to cancel all access cards issued to Avantair officers, directors and employees.
The motion followed a visit by the trustee to the aviation service firm’s office and hangar on Aug. 3. “It appears that some offices and areas within the premises have been emptied,” the motion said. “Preserving the premises, the business records of the debtor, as well as the aircraft and other equipment and furnishing belonging to the debtor is critical to protecting and maximizing the benefits of the bankruptcy estate.”
A request for comment to Avantair made through its bankruptcy attorney was pending return.
United States Bankruptcy Judge Catherine Peek McEwen also posted a preliminary hearing in the case until Aug. 16.
Avantair (OTCBB: AAIR) has grounded its fleet twice since last October, furloughed employees and lost key executives who resigned.