displayfireworks1
03-28-2017, 06:36 PM
The president and co-owner of Bartolotta Fireworks has sought personal bankruptcy protection, and the company is becoming part of Wolverine Fireworks.
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http://www.jsonline.com/story/money/business/2017/03/14/bartolottas-file-bankruptcy-but-fireworks-business-continues/99185866/
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The Delafield-based fireworks business, which is not affiliated with The Bartolotta Restaurant Group in Milwaukee, says it’s still in operation and is booking shows for this year, including Milwaukee’s Summerfest.
Third-generation, family-owned Bartolotta Fireworks does hundreds of events a year in Wisconsin and elsewhere in the Upper Midwest. The business was started in 1977, but traces its roots to the 1930s when founder Sam Bartolotta developed a passion for pyrotechnics.
In a Chapter 7 filing in U.S. Bankruptcy Court in Madison, Jeffrey and Donna Bartolotta said they had $506,377 in assets and $3,697,010 in liabilities. Jeffrey is president of the fireworks company. He and his wife, Donna, own a third of it, according to court records.
Hours after the Journal Sentinel reported on the bankruptcy filing Tuesday evening, Jeff Bartolotta released a statement on the company's Facebook page that said:
"As co-owner and President of Bartolotta Fireworks, I want to first thank you for your continued business and loyalty over the years. Together we have created years of 'New Family Traditions' throughout the Midwest. You have become an extension of our family having been there through joy and sorrow over the years. Together we’ve surprised you with the child-like spontaneity of Art in the Sky, and you’ve surprised us with your support, loyalty and even your prayers.
"It comes with great sadness that I have to inform you Bartolotta Fireworks (as it stands) is closing. I am, however, very excited to announce that Bartolotta Fireworks is becoming Wolverine Fireworks. As the largest distributor of firework products, Wolverine Fireworks has long been a valued friend and colleague of the industry.
"Moving forward, I will remain your contact for your Wolverine Fireworks displays. It is important to note that business will continue to operate with the same level of professionalism and safety as it has for the last 39 years. I will personally ensure that as valued customers, your needs are not just met, they’re exceeded.
I love fireworks and look forward to continuing to entertain and work with all of you. Thank you again for your loyalty and support."
Chapter 7 bankruptcy is for individuals who have financial difficulties preventing them from paying their debts and who are willing to allow their nonexempt property to be used to pay their creditors. The primary purpose is to have debts discharged.
The filing lists Bartolotta Fireworks LLC, of Delafield, as one of the Bartolottas’ co-debtors.
The company “is insolvent. Principal secured lender has accelerated the debt and will be starting a collection action soon,” the filing noted.
Court records show that Bartolotta Fireworks had a $154,089 judgment filed against it by Wolverine Fireworks Display of Kawkawlin, Mich.
Bartolotta Fireworks is working through various issues, according to Donna Bartolotta.
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“There’s a variety of different agreements going on right now,” she said.
In addition to fireworks shows at Summerfest, Festa Italiana, Polish Fest, German Fest and Watertown Riverfest, the company has done shows at winter carnivals, ski hills and weddings.
Even during the Great Recession, most cities and towns kept their fireworks shows.
“Our market share has always been extremely loyal to us, as we are to them,” Donna Bartolotta said.
.
http://www.gmtoday.com/news/local_stories/2017/03162017-bartolotta-fireworks-to-become-part-of-wolverine-fireworks-after-bankruptcy.asp
.
http://www.jsonline.com/story/money/business/2017/03/14/bartolottas-file-bankruptcy-but-fireworks-business-continues/99185866/
.
The Delafield-based fireworks business, which is not affiliated with The Bartolotta Restaurant Group in Milwaukee, says it’s still in operation and is booking shows for this year, including Milwaukee’s Summerfest.
Third-generation, family-owned Bartolotta Fireworks does hundreds of events a year in Wisconsin and elsewhere in the Upper Midwest. The business was started in 1977, but traces its roots to the 1930s when founder Sam Bartolotta developed a passion for pyrotechnics.
In a Chapter 7 filing in U.S. Bankruptcy Court in Madison, Jeffrey and Donna Bartolotta said they had $506,377 in assets and $3,697,010 in liabilities. Jeffrey is president of the fireworks company. He and his wife, Donna, own a third of it, according to court records.
Hours after the Journal Sentinel reported on the bankruptcy filing Tuesday evening, Jeff Bartolotta released a statement on the company's Facebook page that said:
"As co-owner and President of Bartolotta Fireworks, I want to first thank you for your continued business and loyalty over the years. Together we have created years of 'New Family Traditions' throughout the Midwest. You have become an extension of our family having been there through joy and sorrow over the years. Together we’ve surprised you with the child-like spontaneity of Art in the Sky, and you’ve surprised us with your support, loyalty and even your prayers.
"It comes with great sadness that I have to inform you Bartolotta Fireworks (as it stands) is closing. I am, however, very excited to announce that Bartolotta Fireworks is becoming Wolverine Fireworks. As the largest distributor of firework products, Wolverine Fireworks has long been a valued friend and colleague of the industry.
"Moving forward, I will remain your contact for your Wolverine Fireworks displays. It is important to note that business will continue to operate with the same level of professionalism and safety as it has for the last 39 years. I will personally ensure that as valued customers, your needs are not just met, they’re exceeded.
I love fireworks and look forward to continuing to entertain and work with all of you. Thank you again for your loyalty and support."
Chapter 7 bankruptcy is for individuals who have financial difficulties preventing them from paying their debts and who are willing to allow their nonexempt property to be used to pay their creditors. The primary purpose is to have debts discharged.
The filing lists Bartolotta Fireworks LLC, of Delafield, as one of the Bartolottas’ co-debtors.
The company “is insolvent. Principal secured lender has accelerated the debt and will be starting a collection action soon,” the filing noted.
Court records show that Bartolotta Fireworks had a $154,089 judgment filed against it by Wolverine Fireworks Display of Kawkawlin, Mich.
Bartolotta Fireworks is working through various issues, according to Donna Bartolotta.
.
“There’s a variety of different agreements going on right now,” she said.
In addition to fireworks shows at Summerfest, Festa Italiana, Polish Fest, German Fest and Watertown Riverfest, the company has done shows at winter carnivals, ski hills and weddings.
Even during the Great Recession, most cities and towns kept their fireworks shows.
“Our market share has always been extremely loyal to us, as we are to them,” Donna Bartolotta said.
.
http://www.gmtoday.com/news/local_stories/2017/03162017-bartolotta-fireworks-to-become-part-of-wolverine-fireworks-after-bankruptcy.asp