Creditors File Involuntary Bankruptcy Against Cardis

Cardis Corp., one of California’s largest distributors of automotive parts, supplies and accessories, said Friday that unidentified creditors have filed an involuntary bankruptcy petition against the company.

Cecilia Wilkinson, a spokeswoman for Cardis at its headquarters here, said the company had not seen the filing yet and did not know which creditors asked the bankruptcy court in Los Angeles to force the company to reorganize under Chapter 11 of the U.S. Bankruptcy Code.

Wilkinson said the company’s biggest creditors are Bank of America and the Motor & Equipment Manufacturers Assn. Last week, the company said it had agreed to sell its Northern California warehouses to Auto Parts Wholesalers Inc. in Bakersfield.

Kenneth Cleveland, Cardis president, said Friday that the company is conducting business as usual. He said it has been seeking a buyer for its Southern California operations, which include a warehouse in San Diego and 20 Car Quest automotive parts stores.

Cardis emerged from bankruptcy proceedings in December, 1989. For the nine months ended Jan. 31, Cardis reported a loss of $5 million, or $2.31 a share, contrasted with a loss of $1.8 million, or 81 cents a share, a year earlier.

The company reported revenue of $48.9 million for the nine-month period, down 11.7% from $55.4 million a year earlier.