As Tennessee businessmen may know, a company may have to go into bankruptcy if it sees continuing losses and mounting debts. This is what happened with Aeropostale, a clothing company based in New York City that markets apparel for teenagers and young adults. The...
Chapter 11
Top five reasons bankruptcy might be a good idea for your struggling business
Your business debt is a reality - it has already happened. Now is not the time to wonder what would have happened if you had done something differently. Now is the time to start thinking about how to save your business or avoid personal liability for its debts....
Bankruptcy protection for American retailer Aeropostale
Tennessee shoppers should be aware that clothing retailer Aeropostale has filed for bankruptcy protection. The company filed for Chapter 11 bankruptcy protection on May 4 after seeing a steady decline in sales. It was known for its basic designs in a variety of...
Save your business through Chapter 11 bankruptcy
It is not uncommon for a business to run into financial difficulties at some point. If you find your company in this position, you have a few options. Once you consider everything else, you may want to learn more about Chapter 11 bankruptcy. Although the Chapter 11...
Can individuals file for Chapter 11?
As an individual interested in bankruptcy, you typically turn your attention to Chapter 7 and Chapter 13. While this may be true, there is another option to consider: Chapter 11 bankruptcy. This form of bankruptcy is available to both businesses and individuals. While...
Chapter 11 bankruptcy keeps laundry doors open
In a recent blog post, we discussed how Chapter 11 bankruptcy can help businesses or individuals restructure debts to create a more viable future. For businesses, Chapter 11 bankruptcy is often a beginning instead of an ending, and restructuring can mean the business...
What do you know about Chapter 11 bankruptcy?
When it comes to bankruptcy, most people are familiar with Chapter 7 and Chapter 13. While these are the most common choices for individuals, Chapter 11 bankruptcy often comes into play when a business needs to reorganize due to a large amount of debt. It is not...
Miller Energy seems very close to bankruptcy
Though the company's executives say they are fighting to avoid it, it's impossible not to feel like Miller Energy is getting very close to bankruptcy. Revenue has not been able to keep up with debt, and the company has had a serious problem generating enough funds. In...
Seeing bankruptcy as a fresh start, not a bad ending
Companies of every kind depend on healthy finances to stay afloat. A product or service can be strong and customer service can be of the highest quality, but if a company is spending more than it is taking in, there may be no way to recover and stay open. However,...
Struggling businesses may be eligible for Chapter 11 bankruptcy
Owning or running a business can be an extraordinarily complicated undertaking. Decisions that need to be made are often difficult and can affect dozens, hundreds or even thousands of people so it is important to make these decisions thoughtfully and only when fully...