Wellington Corp. Files Chapter 7

BROOKFIELD, Wis. — Wellington Management Corp., parent company of now-defunct Wellington Equipment, filed for Chapter 7 bankruptcy, the Milwaukee Journal Sentinel reported. The Chapter 7 filing lists debts of $9 million and assets of $386,000. Almost all of the debt is unsecured. Creditors include many investors who hold Brookfield, Wis.-based Wellington Management Corp. bonds.

Dozens of investors have claims against Waukesha, Wis.-based Wellington Equipment Corp., a former RER 100 company that rented and sold aerial work platforms. WEC partially financed its equipment fleet by selling limited partnership interests to investors.