Clark Appliance, a high-end home appliance retailer in business for more than 100 years, filed an emergency voluntary petition for chapter 11 relief on Friday, the Indianapolis Star reported yesterday. In a letter to customers, owner Bob Clark said that the move was motivated by a number of financial problems that have plagued the company since 2008. Court documents state that Clark Appliance owes about $2.2 million to its largest single creditor, General Electric. First Business Capital Corp., an asset-based lender in Madison, Wis., is owed about $2 million.
