Bentonville Couple Claims Bankruptcy

A couple that recently moved from Illinois to Bentonville filed for Chapter 7 bankruptcy liquidation and listed $2.2 million in assets and $1.7 million in debts.
Between May 2001 and December 2005, Brad and Celia Lou Gard owned Dynamic Solutions LLC, a printing business in Martinsville, Ill., that was also known as Dynamic Print Solutions.
The couple also owned Illiana Purchasing, which was at the same address of Dynamic Print. Illiana was a resale promotional items and supplies company that operated between February 2004 and December 2005.
The Gards left Illinois and moved to Arkansas in 2006.
The creditor holding the largest unsecured claims was the IRS with a claim for $326,000. Most of the other claims were tied to debts from Dynamic Print.
The couple’s largest asset was customer lists for Dynamic Print and Illiana. The couple reported the value of the lists at $1.4 million.
The couple said it had no income in 2005, but it reported $152,180 in income in 2004.
The Gards weren’t available for comment and neither was their attorney, Joseph Cornell, of Fayetteville.