Sniper Mail, Dow Jones & Co. and American List Counsel topped the list of unsecured creditors of Impower, the Princeton, NJ-based online marketing business that filed for voluntary Chapter 11 bankruptcy protection Friday.
The three firms are owed nearly $2 million collectively, with Boca Raton, FL-based Sniper Mail accounting for nearly half of that. New York-based Dow Jones is owed more than half a million dollars, American List Counsel, Princeton, NJ, is owed $426,686.
The papers, which were filed in the United States Bankruptcy Court in New Jersey, list $9.9 million in current assets against liabilities of nearly $11.5 million.
Among the assets are nearly $8.1 million in net accounts receivable, $122,285 in cash and $437,000 in restricted cash. The liabilities include more than $9.7 million in accounts payable, $748,129 in lines of credit and notes payable, $292,645 in accrued payroll and benefits and other expenses and liabilities.
“Impower built an infrastructure for a much bigger business than we have today,” Greg Ellis, Impower
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