Wm. Consalo & Son Inc., which for decades was a pillar in the Garden State produce industry, has ceased operations and will liquidate its assets to satisfy creditors.
John Molinelli Inc., a transportation company based in Vineland, NJ, that is owed $38,000, filed a lawsuit against Wm. Consalo & Son Inc. on March 1 and a consent injunction was entered March 26 in U.S. District Court in the District of New Jersey, Camden Vicinage, thus putting in motion the PACA Trust claims procedure. Debt covered by the PACA Trust is put in a priority position and will be paid before money owed other creditors.
Steven Nurenberg of Meuers Law Firm in Naples, FL, which is representing John Molinelli Inc., said that there are 47 creditors who are owed approximately $3.3 million. He was unsure about how much of the debt would be covered by the PACA Trust.
Wm. Consalo & Son is represented by Eugene J. Malady of Eugene J. Malady LLC in Media, PA. Creditors will be given notice by May 1 and will have until May 31 to file a proof of claim, which will be reviewed by Messrs. Malady and Nurenberg. Funds are to be distributed to creditors on Aug. 23.
Wm. Consalo & Son was founded in 1927 in Vineland, NJ, by William Consalo. Mr. Consalo's four sons - William F., Anthony (Andy), Augustus (Augie) and Vincent Sr. - helped bring the firm to prominence in the industry. Members of the family's third generation, including Vincent Jr., Louise and Robert, were most recently in executive positions and are named in the legal proceedings.
Attempts to reach corporate officers at the company's headquarters were unsuccessful.