West Side Rental & Sales, a Nashville, Tenn.-based rental company, last week filed for chapter 11 bankruptcy protection and will reorganize to reconcile more than $1.4 million in debts, the Nashville Business Journal reported last week. The construction equipment rental company listed more than $2.6 million in assets and more than $1.4 million in liabilities.
Owner Thomas Davis said the weak economy and lack of construction projects caused the difficulties. He said he intends to reorganize the company and pay off all its debts.
Davis also filed for personal Chapter 11 protection. Davis said rates for the company’s equipment have plunged 50 percent during the past 18 months.