Several emergency restoration companies have filed for bankruptcy in recent months amid mounting financial pressures across the industry. The latest example is Property Restoration Inc., a New York-based company, which has been in operation for more than 30 years.
Property Restoration Inc. Files for Chapter 11
According to court filings on PACER, the company that provides emergency remediation services across Central New York voluntarily filed for Chapter 11 on March 13, 2026.
The process is currently taking place in the U.S. Bankruptcy Court for the Northern District of New York. Attorney Bonnie Pollack of Cullen and Dykman LLP is representing the company in court.
Company Background
Property Restoration Inc. offers emergency remediation services for properties affected by water, fire, mold, biohazards, and other damage. For more than three decades, the 24/7 services provider has served the needs of clients’ residential, commercial, and institutional projects. The company also works with insurance providers on damage claims involving flooding, burst pipes, smoke, and fire.
According to the company’s website, owner Art Diamond oversees a team of technicians that provide year-round emergency restoration services across Central New York. The company offers services including fire and smoke cleanup, crime scene and trauma cleanup, reconstruction, mold remediation, and water damage restoration.
Case Related Details
RK Consultants reports that Property Restoration Inc. currently has between 50 and 99 creditors. Additional information listed in its Chapter 11 petition is here:
- Filing Date: March 13, 2026
- Court and Jurisdiction: U.S. Bankruptcy Court for the Northern District of New York
- Type of Filing: Active, Voluntary Petition
- Chapter: 11
- Case Number: 26-30166
- Estimated Assets: $1,000,001-$10 million
- Estimated Liabilities: $1,000,001-$10 million
- Reason for Filing: Restructure business under court supervision
The company submitted a list of creditors who have the 20 largest unsecured claims in the court. Some of these included Nitro Advance Inc., Home Depot, Panthers Capital LLC, Upstate Piping and Construction, and Capital One.
Previous Filings by Damage Restoration Companies
Property Restoration Inc. is not the first property damage recovery company to have sought bankruptcy protection this year. Several other restoration companies have also filed for bankruptcy in recent months as they pursue financial restructuring.
A water, mold, and property restoration company that operates throughout the Big Island of Hawaii filed for bankruptcy on February 20. Hawaii Mold and Flood, LLC’s step was part of its efforts to adjust its finances while operations continued under court supervision. The locally owned business has offered its restoration services for more than 2 decades.
McKinney-based Apex Turnkey Services, LLC, made a Chapter 11 filing on February 17. The restoration company filed for bankruptcy as a small business debtor, with plans to address the financial obligations of its 50 to 99 creditors and reorganize its operations. The business currently operates as ATS Restoration & Construction across the Dallas–Fort Worth Metroplex.
Property Restoration Inc.’s bankruptcy filing highlights the growing financial strain in the regional restoration industry. As the case moves forward, the company plans to continue operations while addressing its obligations to creditors through the court-supervised process.
