The Chapel Hill, North Carolina-based Mountain Power Systems, Inc, distributes a range of industrial, farming, marine, and automotive parts to customers across the region. The company filed for Chapter 11 bankruptcy protection.
The latest move is an attempt at helping it reorganize its finances while facing unsecured claims of over $5 million. Operations are expected to continue as normal under the guidance of the court.
Mountain Power Systems, Inc. Files for Chapter 11
The company made its filing on May 12, 2026, according to the case details available on PACER. Court records show the case is being handled in the U.S. Bankruptcy Court for the Eastern District of North Carolina.
CEO Iliya Sokolovsky signed the petition as the company’s authorized representative. Attorney Zachary Malnik of Waldrep Wall Babcock & Bailey PLLC is the legal counsel in the case…