A bistro in another state recently filed for bankruptcy. The bankruptcy filing was specifically for Chapter 11 bankruptcy protection. Companies in Massachusetts that are struggling to keep up with their liabilities may benefit from this type of bankruptcy filing. In the recent out-of-state case, the bistro, called Church & State, brought new drink and food options…
Carpet maker files for Chapter 11 bankruptcy protection
A carpet maker in another state recently chose to file for bankruptcy in federal bankruptcy court. The company, Beaulieu Group LLC, said it plans to reorganize the business’s finances under a Chapter 11 bankruptcy plan for restricting debt. Companies in Massachusetts and other states that are struggling to make ends meet may benefit from such…
Denim brand files for Chapter 11 bankruptcy
In the past, the premium denim brand True Religion was so in demand that counterfeiters attempted to knock them off. However, the tide has changed for the company, which recently decided to file for Chapter 11 bankruptcy. Any companies in Massachusetts that are struggling to make ends meet may likewise benefit from filing for this…
Takata, airbag maker, files for Chapter 11 bankruptcy
Takata Corp., the company involved in the biggest product recall in the automobile industry, recently decided to file for Chapter 11 bankruptcy. The company also reported that the company, Key Safety Systems, based in the United States, would purchase it for $1.6 billion. Chapter 11 bankruptcy protection is designed to help companies in Massachusetts and…
Gymboree to go through Chapter 11 bankruptcy
Gymboree, which has stores in Massachusetts, recently filed for bankruptcy. This retailer of children’s clothing specifically filed for Chapter 11 bankruptcy. The move comes just a few weeks following its partnering with AlixPartners, a turnaround firm. Gymboree partnered with AlixPartners to receive help with its operations along with a debt payment it missed in early…
Business bankruptcy filings overall on rise
The total number of bankruptcy filings in the United States, including in Massachusetts, increased five percent from last May to this May. The number of filings totaled more than 69,600 in May, with last May’s number being more than 66,100. Still, the number of Chapter 11 filings in particular for business bankruptcy protection actually dropped…
Oncology company files for Chapter 11 bankruptcy
An oncology practice in another state recently decided to file for bankruptcy. The Chapter 11 bankruptcy filing comes following many years of a decline in revenue along with lawsuits. Companies in Massachusetts that are facing financial challenges due to a poor economy and/or legal issues may benefit from filing for bankruptcy, depending on their particular circumstances….
Hospital files for Chapter 11 bankruptcy
A hospital in another state recently decided to file for bankruptcy. The facility filed for Chapter 11 bankruptcy in an effort to buy itself some time to stay in businesses and re-organize itself. This type of bankruptcy filing in Massachusetts can be helpful for health care facilities and other businesses that are battling continual financial…
Solar panel maker files for Chapter 11 bankruptcy
A solar company in another state recently filed for bankruptcy. The main reason for Suniva’s Chapter 11 bankruptcy filing is tariff-related issues in the solar industry, which have caused the company’s financial hardship. A company in Massachusetts that is facing financial struggles due to debt issues may find much-needed relief through the Chapter 11 bankruptcy…
Pawn company files for Chapter 11 bankruptcy
A pawn company in another state recently decided to file for bankruptcy. The company is seeking Chapter 11 bankruptcy protection due to succumbing to growing competition from internet-based companies. When a company in Massachusetts or elsewhere cannot stay afloat financially, this type of bankruptcy filing may be its ticket to survival. The pawn company that…