New Bedford Business Files For Bankruptcy

A New Bedford business has filed for bankruptcy.

The Boston Business Journal is reporting that Top Quality Seafood & Shellfish LLC filed chapter 11 of the bankruptcy code last week.

Atlantic Capes Fisheries of Cape May, N.J., who's listed as the biggest unsecured creditor, is owed $2.06 million.

In the filing the debt was attributed to a "civil judgment."

Red's Best, who is listed as the biggest Boston creditor, is owed $15,643.

Santander Bank, which according to a filing holds a $500,000 asset lien is listed as the biggest secured creditor.

Harbor Blue Seafood of Fair Haven is listed as holding a claim of $123,218.

The Journal says a chapter 11 filing usually indicates a company is trying to reorganize and stay in business.