Siemens reseller files for bankruptcy

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German Electronics Company (GECO) filed Chapter 11 bankruptcy proceedings on Dec. 15, 2008 in the U.S. Bankruptcy Court, Middle District of Florida in Tampa.

GECO has been a national parts supplier for pre-owned Siemens medical imaging equipment and parts for 15 years.

“Recently, our decision to file for reorganization was a difficult but necessary move to fend off a predatory bank from making it impossible for us to continue to serve our customers. We see this as an opportunity to restructure our operating procedures and policies and perform 'household' cleaning that will enable us to continue to grow and serve the medical imaging business for many years to come,” said Ralph Frizzle, owner and president of the Largo, Fla.-based GECO.