Trinity Carpet Brokers Files for Bankruptcy

Milwaukee, WI, July 2, 2008-- Trinity Carpet Brokers, a major regional supplier of carpet and flooring, filed for Chapter 11 bankruptcyin late June.

An attorney for the Milwaukee-based firm said the company's ability to borrow money was hurt by the failure of two large customers to keep current on their bills.

One of those customers was Renaissance Custom Homes, which owes Trinity more than $1 million, according to bankruptcy documents.

Trinity's financial pinch was due in part from an inability to get additional credit from its major lender, Sterling Savings Bank of Spokane.

Trinity's ability to borrow was based on its accountants receivables -- money due from its customers.

Trinity closed its retail shops before filing for bankruptcy. It has struck a tentative deal to sell its wholesale operation to SC Design Inc. of San Diego, for about $3.1 million. The deal must be approved by the court.