South Coast Equipment LLC, a Miami-based contractor specializing in land clearing, demolition, excavation, and equipment rentals, has filed for Chapter 11 bankruptcy. The 11-year-old company, which encountered financial difficulties on several major projects, petitioned for reorganization on September 3, 2024, in U.S. Bankruptcy Court in Miami.
Financial Struggles and Lawsuits
According to the bankruptcy filing, South Coast Equipment lists over $1.2 million in debt and $618,000 in assets. The company is seeking to restructure its debt following financial setbacks from two key projects. One of the major issues stems from non-payment for a project it worked on for Landmark Structural and Onyx, while the other resulted in litigation with CJM Construction, a Deerfield Beach-based contractor.
The legal dispute with CJM Construction centers on pandemic-related delays and a 300% spike in material costs that affected a project South Coast Equipment was involved in. Court records from Broward County show that CJM Construction filed a lawsuit last year, which led to a judgment of $82,234 against South Coast Equipment in May 2024.