The seafood wholesaler, whose operation is located in the Fulton Fish Market, listed assets of $4.2 million (€3.1 million) and liabilities of $5.9 million (€4.4 million) in court documents.
The company is a long-time resident of the market, which last year moved from its waterfront site after more than 180 years to a new facility in the Bronx.
Arrow is owned by company President David Smith and three other members of the Smith family.
In court records, Smith said the company needs to file Chapter 11 because a decline in sales during 2004 forced Arrow to accumulate “significant trade debt at the time.”
