Pettit Oil, a fuels and lubricants distributor in Washington, liquidated its assets and discontinued operations after filing for bankruptcy late last year.
Lakewood-based Pettit reported assets of approximately $18.7 million and liabilities of around $22.5 million, according to a court document filed Nov. 25 with the Western District of Washington U.S. Bankruptcy Court. The company reported revenue of around $319 million in 2012 with the transport of more than 96 million gallons of petroleum products. In 2013, the company generated only around $172 million revenue with 50 million gallons of products as of Nov. 25.
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