Long Reach Inc has collapsed with unknown outstanding debts to creditors.

TBM Holdings, Long Reach's parent company, said in a stock exchange announcement on April 8 that the company had filed a voluntary petition under Chapter 11 of the US Bankruptcy Code in the US Banruptcy Court for the northern district of Texas.

The statement, filed to the Securities & Exchange Commission, said Long Reach would operate normally for six weeks, before its assets were liquidated.

"Long Reach will continue to operate its business as debtor-in-possession for six weeks, after which it expects to orderly liquidate its assets," the company said.

Forkliftaction.com News will bring readers more news of the collapse as it unfolds. Currently there is no indication from the company of the value of outstanding debts nor a likely time within which creditors will be settled.