Rumors have been circulating around Lamar for the past several weeks concerning the possible closing or sale of O'Sullivan Industries, the city and Barton County's top employer.
The company's fate appears to be in the hands of a federal bankruptcy court judge in Georgia. According to documents filed March 21 in U. S. Bankruptcy Court for the Northern District of Georgia, O'Sullivan officials are asking that their bankruptcy case be closed and that they no longer be under the supervision of the court. If that happens, it should clear the path for whatever the company is planning:
Disbursements to Class 3A General Unsecured Claims in the approximate amount of $1,435,700.00 have been made pursuant to the Confirmed Plan. As set forth in more detail in the Final Administrative Expense Report filed by the Debtors contemporaneously herewith, the Debtors have paid substantially all known administrative expenses. Additionally, all claims filed against the Debtors have been resolved with the exception of five claims that remain unliquidated. None of these unliquidated claims, however, needs to be resolved by the Bankruptcy Court. Specifically, three claims were filed by worker’s compensation claimants: Pamela Straw, Lonnie Buss, and Aida Wilhelm (claim numbers 488, 490 and 491). These claims are being liquidated in the appropriate forums for the liquidation of worker’s compensation claims, and the Bankruptcy Court need not liquidate or resolve them.
The remaining two proofs of claim were filed by the US Customs and Border Protection
("USCBP"), claim numbers 536 and 537. These two claims will be liquidated in accordance with the USCBP’s process for liquidating entry claims. Accordingly, these two claims similarly do not need to be liquidated by the Bankruptcy Court."
Lamar workers have been left in the dark as to the company's plans and have been sent home for the week, according to posts on the Lamar Chat website.