Oklahoma City contractor Bloom Electric files for Chapter 11

Family feud precedes Bloom Electric bankruptcy filing in Oklahoma City
by Brianna Bailey Published: June 9, 2014
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Oklahoma City-based contractor Bloom Electric Services and several affiliated companies filed for Chapter 11 bankruptcy this week.

The two brothers who have run the companies for 30 years, Richard and David Bloom, have been battling in court over how to divide the businesses since January.

Bloom Electric, based at 9525 W Reno, has more than 200 employees, according to court documents. The companies also have offices in Alva, the Dallas-Fort Worth area, and North Dakota.

Richard Bloom president and chief operating officer of the Bloom companies, moved to file for Chapter 11 after failing to reach a settlement with his brother, David Bloom, over the assets.

Bloom Electric Services LLC; Bloom Transportation LLC; Bloom Properties LLC and Bloom Dakotas LLC all filed for Chapter 11 bankruptcy on Sunday in U.S. Bankruptcy Court in Oklahoma City. Bloom Electric Holdings LLC, a holding company for the Bloom companies, also filed for Chapter 11 bankruptcy in May, but U.S. Bankruptcy Court Judge Niles Jackson dismissed the case on Monday.

Attorneys for David Bloom have asked the bankruptcy court to dismiss the Bloom Electric Holdings bankruptcy case and have a receiver take control of the companies.

The Bloom companies provide industrial and infrastructure services for the oil and gas industry, as well as manufacturing and utilities, with a focus on oil field services. Bloom was founded in Oklahoma City more than 50 years ago by Richard and David Bloom’s father, Donald Bloom, who died in 2009.

According to documents filed by David Bloom, the two brothers had run the business together for more than 30 years before deciding to divide it in late 2013. The division was almost complete when, in January, Richard Bloom allegedly had his brother forcibly removed from the companies’ Oklahoma City offices, David Bloom claims.

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by Brianna Bailey
Business Writer
Brianna Bailey has lived in Idaho, Germany and Southern California, but Oklahoma is her adopted home. She has a bachelor's degree in Journalism from the Univerisity of Oklahoma and has worked at several newspapers in Oklahoma and Southern...
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