Hacketts owes more than $10m

Federal bankruptcy filings show that Patrick Hackett Hardware Co. owes more than 200 creditors at least an estimated $10 million, yet the company lists assets of less than $50,000.

The Ogdensburg retailer filed for Chapter 11 bankruptcy protection Tuesday in U.S. Bankruptcy Court, Northern District of New York, Utica.

Thomas W. Scozzafava, Hacketts chief executive officer, said Monday that the company intends to reorganize under bankruptcy and continue to operate stores in Ogdensburg, Massena and Tupper Lake.

Its Gouverneur store closed abruptly Sunday, joining locations in Watertown, Pulaski, Canton and Potsdam as closed.

According to the 144-page bankruptcy filing, creditors holding the 20 largest unsecured claims are owed a total of nearly $11 million. At the head of the list is True Value Co., which lists a claim of $1.4 million, although court documents indicate this amount is in dispute. There are also five separate claims due True Value totaling $1.2 million.

Other large unsecured claims include:

■ VF Outdoor Inc., Chicago, Ill., $634,295

■ Columbia Sportswear Co., Atlanta, Ga., $525,508

■ Key Bank, Cleveland, Ohio, $419,176

■ All-Clad Metalcrafters, Boston, Mass., $316,621

■ Woolrich, Baltimore, Md., $260,289

■ Radio Shack, Des Moines, Iowa, $168,817

A group of unsecured creditors who are not otherwise identified in court documents is listed as due $2 million, while a creditor identified only as Yorkville is due $3 million. Among other unsecured creditors is the state Department of Taxation and Finance, which has a $225,000 claim.

Creditors holding secured claims include industrial development agencies in Franklin, St. Lawrence and Oswego counties, which are due $25,579, $24,841 and $27,379, respectively. The North Country Alliance also has a secured claim of $12,217.

Creditors holding unsecured priority claims include the cities of Ogdensburg and Watertown, which are due $55,483 and $12,577, respectively. The villages of Canton, Gouverneur, Hamilton, Potsdam, Sackets Harbor and Tupper Lake also have unsecured priority claims, ranging from $621 for Potsdam to $11,873 for Tupper Lake.

Also listed as a creditor holding an unsecured priority claim is the Watertown Daily Times, which is due $22,469, according to court documents. The St. Lawrence County Newspapers, which are owned by the Johnson Newspaper Corp., parent company of the Times, are due $6,438.

Hacketts is represented in its bankruptcy action by Watertown attorney David P. Antonucci.