Next Level Distribution (formerly Audio America), based in Jupiter, FL, has entered an alternative form of bankruptcy known as “ABC,” or Assignment for the Benefit of Creditors.
ABC is a streamlined form of liquidation that allows parties to avoid the delays typical of formal bankruptcy proceedings, according to the American Bar Association.
On September 14, Next Level filed case number CACE23018356 in the Broward County 17th Judicial Circuit Court. The filing said that Next Level has assets of over $47 million. It owes one of its largest creditors in the home audio market $6 million. Some car audio vendors are owed in the low tens of thousands of dollars with a couple that are owed close to $100K or even well over $100K, depending on the vendor.
Next Level was estimated to be one of the largest distributors in the country and some say the largest in Florida. It has operated locations in Atlanta, Chicago, Dallas, Las Vegas, Jupiter, FL, Milwaukee, and Minneapolis.
Next Level attorneys did not respond to our inquiry.
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