Tens of thousands of dollars were paid by people for pool installations that were never finished. Some orders were over a $100,000.
Davenport Extreme Pools and Spas filed for bankruptcy in December, which means dozens upon dozens of people might not get their pools, or their money back.
Davenport opened their doors in early 2019, but closed them in late 2022 because they ran out of money.
Some people had their money taken with no work to show for it. And some people not only have a hole in their wallet, but a hole on their property where the project was started but not finished.
A statement from Davenport’s attorney said they sought bankruptcy protection as a last resort to stay in business. The statement goes on to say that the only way Davenport can finish its pool installations is if the bankruptcy is successful.
On December 22, 2022, Davenport filed for bankruptcy. The bankruptcy filing says Davenport used customer deposits to run the business, but now there is no money left.
They have a little over $900,000 in assets, but owe nearly $5 million.
Davenport filed under chapter 11 bankruptcy which allows them to run the business while restructuring their debts. The US trustee has asked the court to force Davenport to liquidate, because they had no insurance or a required bank account at the time of the filing.
Source: WAVE
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