NORTH DAKOTA (trfnews.i234.me) – North Dakota-based EPIC Companies has filed for Chapter 11 bankruptcy, a process that allows for the reorganization of debts and assets under court supervision. According to court documents, EPIC has declared assets and liabilities between $10 million and $50 million, listing between 50 and 99 creditors owed money. The list of creditors includes the North Dakota Tax Commissioner, North Dakota Attorney General’s office, several private companies, and individual investors.
In May, local news reported numerous layoffs at EPIC without explanation. Contractors owed money expressed concerns about payment for completed work, with one contractor stating he was informed there was no money to pay him. Meanwhile, other firms have taken over management of EPIC properties in Fargo, West Fargo, Moorhead, Bismarck, Minot, Jamestown, and Perham, Minnesota. EPIC has not responded to multiple requests for comment