All Terrain Monsters, a South Georgia company that makes extra-large all-terrain vehicles, filed for Chapter 11 bankruptcy after its primary lender threatened to foreclose on some of its property.
Georgia A.T.M. Inc. of Glenwood, Ga., the corporate parent of All Terrain Monsters, filed for bankruptcy on Oct. 6 in U.S. Bankruptcy Court for the Southern District of Georgia in Dublin.
All Terrain Monsters is owned by the Gilder family, including Thomas R. “Tommy” Gilder III; his wife, Vicki Gilder; and his brother, Fred Gilder. The Gilders also own Gilder Timber Co. of Glenwood. All Terrain Monsters, which employed four people as of the date of the bankruptcy filing, makes all-terrain vehicles used in hunting, farming and racing and for search-and-rescue teams. Prices for each vehicle start at $13,000, according to the All Terrain Monsters web site.
All Terrain Monsters said in a court filing that its largest debt is $1.5 million owed to Montgomery Bank & Trust of Ailey, Ga. Montgomery Bank & Trust had said it planned to foreclose on 108 acres of the Gilder family’s property, according to an Oct. 3 letter to the Gilders from the company’s legal counsel, Stone & Baxter partner Ward Stone Jr. in Macon.
Stone is bankruptcy counsel to All Terrain Monsters. Brown Rountree partner Charles H. Brown in Statesboro is advising Montgomery Bank & Trust.