A Springfield, Ohio-based floor covering retailer has filed for Chapter 11 bankruptcy protection. Court filings show a significant gap between the company’s estimated assets and liabilities.
The company plans to reorganize its finances through the bankruptcy process. It is planning to do so by qualifying as a “small business debtor.”
Byrum’s Floor Store, LLC Enters Bankruptcy
The company officially stepped into bankruptcy on April 14, 2026. While it didn’t reveal a reason citing the Chapter 11 proceedings, early filing details show a gap between its assets and liabilities.
The estimated liabilities, as given in case filings on RK Consultants, are over $825,000. Estimated assets total just over $126,000.
Filings identify the company as a small business debtor under 11 U.S.C. § 101(51D), proceeding under Subchapter V of Chapter 11.
Filing details add that the company has aggregate noncontingent liquidated debts of less than $3,424,000. This amount excludes debts to insiders and affiliates and is subject to adjustment on April 1, 2028, and every three years thereafter.
Attorney Russ B. Cope of Cope Law Offices, LLC, is representing the company in the U.S. Bankruptcy Court for the Southern District of Ohio.
Filings Made So Far
The Chapter 11 petition was signed by authorized representative Kurt A. Byrum, who is also the company president. Several documents that were added in the petition included a summary of assets and liabilities, a statement of financial affairs, a disclosure of compensation of attorney, a corporate ownership statement, and a list of equity security holders.
The company also filed Schedules A/B, D, E/F, G, and H.
Other than these, Byrum’s Floor Store, LLC shared a list of creditors who have the 20 largest unsecured claims and are not insiders. These include AHF Products, Don Wright Realty, Forward Financing, Shaw Industries, Inc., NFC Savings Bank, and Fox Funding Group, LLC.
A summary of the Chapter 11 petition, available on PACER, is given here:
- Filing Date: April 14, 2026
- Court and Jurisdiction: U.S. Bankruptcy Court for the Southern District of Ohio
- Type of Filing: Active, Voluntary Petition, Subchapter V
- Chapter: 11
- Case Number: 3:26-bk-30812
- Estimated Assets: Between $100,001 and $500,000
- Estimated Liabilities: Between $500,001 and $1 million
- Estimated Creditors: Between 1 and 49
- Reason for Filing: Restructure business under court supervision
Court filings indicate that funds will be available for distribution to the unsecured creditors.
Operations Likely To Continue
PacerMonitor states that the company, being the debtor-in-possession, submitted a motion to use cash collateral. This suggests the company retains control of its operations and assets.
Suggesting its plans to continue operations as normal, it filed another motion to pay pre-petition employee compensation, payroll deductions, benefits, and other expenses.
About Byrum’s Floor Store, LLC
As a family-owned and operated floor covering retailer, the company provides a wide range of product offerings. These include carpet, luxury vinyl, hardwood, waterproof flooring, tile, and laminate.
According to its website, the different services at the Springfield, Ohio-based company are consultation, custom area rugs, installation, and more.
The bankruptcy filing highlights financial troubles of the company as liabilities outweigh its assets. By moving ahead under Subchapter V and continuing operations as a debtor-in-possession, it is expecting to normalize its future financial footing.
