Community Corner
Mack Industries Files for Bankruptcy
The Tinley Park based real estate company will reorganize during bankruptcy.
TINLEY PARK, IL - Tinley Park-based Mack Industries has filed for bankruptcy.
The company’s Chapter 11 filing includes assets of $1 million to $10 million and liabilities of $10 million to $50 million, according to a Daily Southtown report. They sought protection from creditors on Friday in the U.S. Bankruptcy Court in the Northern District of Illinois.
Its largest unsecured creditor is American Residential Leasing with a claim of $4 million.
Find out what's happening in Tinley Parkfor free with the latest updates from Patch.
Mack - a company known for buing foreclosed homes, improving them and renting them out to carefully screened tenants - is reorganizing during bankruptcy. An attorney for the company told the Southtown the effect on the company’s existing tenants will be minimal.
Find out what's happening in Tinley Parkfor free with the latest updates from Patch.
Get more local news delivered straight to your inbox. Sign up for free Patch newsletters and alerts.
