Waste management arm of US demolition giant falls victim to industry-wide recession.
The solid waste management arm of the Bayonne-based demolition giant Nacirema Industries has filed for Chapter 11 bankruptcy protection.
Nacirema Industries, located at 211 West Fifth St., filed for Chapter 11 bankruptcy in January with debts of $11.9 million to creditors, according to papers filed with US Bankruptcy Court in Newark.
Nacirema Industries is a subsidiary of Nacirema Group, which has not filed for bankruptcy.
The 11.9 million owed to creditors includes $7.9 million in secure loans to seven banks and finance companies for snow plows and solid waste containers and $4 million in unsecured loans to 165 creditors, including credit card companies, vendors, union pension and trust funds, according to court documents.
In addition, Nacirema Industries owes $245,000 in state taxes to New Jersey and $79,000 to the State of New York DMV Traffic Violations plea unit, court documents say.
The company also owes the New Jersey State Treasury $152,000 of a $375,000 settlement for fines levied by the Hudson County Improvement Authority for being “habitually out of compliance” from 2007 through early 2008 with solid waste transportation regulations, said Michael Walker, the Hudson Regional Health Commission program coordinator for solid waste management.
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