Waits RV Center in West Palm Beach filed for chapter 11 protection with 41 new and used recreational vehicles listed in its inventory, the South Florida Business Journal reported. The company submitted its chapter 11 petition on Oct. 15 in U.S. Bankruptcy Court in West Palm Beach. William Waits signed the petition as president of the company. According to the company’s website, Waits opened the dealership in West Palm Beach in 2010 after previously owning RV dealerships in Vero Beach and Savannah, Georgia, both of which he sold. Waits RV Center listed $1.85 million in assets, mostly its inventory of vehicles, and $2.38 million in debts. Its largest creditors were Wells Fargo with a $600,000 loan, Alpharetta, Georgia-based Northpoint Commercial Finance with $500,000 owed, Fort Lauderdale-based AFC Funding with $400,000 owed, and Tampa-based BayFirst National Bank with a $350,000 SBA loan.
