Epic Companies Declares Bankruptcy

FARGO (KVRR) – North Dakota-based Epic Companies has filed for bankruptcy.

The Minot-based business filed for Chapter 11, which involves the reorganization of debts and assets.  The reorganization would allow Epic to continue operating under supervision of the court.

In court documents, Epic is declaring assets and liabilities of between $10 million and $50 million.

The company is listing between 50 and 99 creditors owed money. The lengthy list of creditors includes the North Dakota Tax Commissioner, the North Dakota Attorney General’s Office, along with several private companies and investors.

In May, KVRR News first reported a number of employees had been recently laid off, many of them without explanation.

Some contractors who are owed money said they were concerned about getting paid for work they’ve already completed. One contractor said he was told 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.

This is a developing story. Check back for updates.