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The bankruptcy of Tucson-based builder Ollanik Construction Co. has been converted from a reorganization to a liquidation, meaning that company will sell its assets to pay off creditors.

The company filed for bankruptcy in Tucson in December. It was converted from a Chapter 11, or reorganization, to a Chapter 7, or liquidation, on Feb. 15.

In filings, Ollanik Construction indicated that it had between 100 and 200 creditors and assets and liabilities between $1 million and $10 million.

Owned by David Ollanik, the company started out as a commercial builder, but later moved into custom home-building and other residential construction in the 1990s.

Tucson construction company to sell assets