Defunct energy company Worley & Obetz filed for bankruptcy on Wednesday, two days after the Manheim energy firm suddenly closed, the Courier Express reported. The nine-page filing in U.S. Bankruptcy Court in Philadelphia calls for the firm’s assets to be liquidated and the proceeds given to its creditors. Worley & Obetz says it has 1,000 to 5,000 creditors who are owed between $50,000,001 and $100 million. The company estimates its assets at $10,000,001 to $50 million. The filing includes its Ranck Plumbing Heating & Air Conditioning and Amerigreen Energy divisions, which also went out of business. Devastated by an alleged fraud, Worley & Obetz in May shuttered its commercial business and began laying off more than 100 employees while hoping to continue serving residential markets. But Worley & Obetz’s bankers, who already face up to $62 million in losses on their loans to the company, balked at the restructuring plan on Monday. That triggered the company’s instantaneous shutdown and the immediate layoff of its remaining 150 workers.
