A chain clothing store recently decided to file for bankruptcy. The move to file for Chapter 11 bankruptcy protection came after The Limited, which sold women’s apparel, closed all 250 of its brick-and-mortar stores. This is just one retailer that has fallen victim in recent years to online competition and changing tastes among customers in…
Mall files for Chapter 11 bankruptcy protection
The owners of a mall in another state recently filed for bankruptcy protection. The Chapter 11 bankruptcy filing took place on a Friday. Bankruptcy filings may be helpful for companies in Massachusetts and other states that are facing financial challenges. In the out-of-state case, the mall owners who filed for bankruptcy claimed that its lender…
Health system files for Chapter 11 bankruptcy protection
A health system in a nearby state recently filed for bankruptcy. The health system specifically filed for Chapter 11 bankruptcy protection. It had quit paying several vendors in 2015, right before it closed a hospital following the state’s halting of a subsidy that had run for a long time. Chapter 11 bankruptcy can be a…
Chapter 11 bankruptcy to benefit gas and oil company
A company in another state recently stated its intention to file for bankruptcy. The gas and oil company will file for Chapter 11 bankruptcy. Reportedly, it has been struggling in light of the current low energy prices. In Massachusetts and elsewhere, bankruptcy protection may be a viable solution for a company facing financial difficulties. The…
Lensar files for Chapter 11 bankruptcy
A company in another state recently filed for bankruptcy. Specializing in cataract surgery laser systems, it decided to file for Chapter 11 bankruptcy. Companies in the state of Massachusetts and elsewhere can use this type of bankruptcy protection option to reorganize if they are experiencing financial challenges. Lensar, the laser system company, said it will…
College filing for Chapter 11 bankruptcy
A college in a nearby state recently filed for bankruptcy. In addition to filing for Chapter 11 bankruptcy, the college has retained a couple of real estate companies to manage the sale of two campuses. Theywill be sold through two sealed bids. Chapter 11 bankruptcy can be helpful for businesses in the state of Massachusetts…
Chapter 11 bankruptcy filings on rise this year
People in Massachusetts and other states may think that a large number of bankruptcy filings means the economy is not doing well. According to reports, Chapter 11 filings for bankruptcy have risen by nearly 22 percent this year when compared to last year, and many of the Chapter 11 bankruptcy filings have been completed by…
Chapter 11 can be complex for individual, business owner
Chapter 11 bankruptcy typically is used for business reorganizations. However, this type of bankruptcy is not just handy for a business owner in Massachusetts. Individuals can also take advantage of it if they have business debt issues or consumer debt problems. Individuals have eligibility for Chapter 11 if they have unsecured debt totaling over $360,475….
Hospital chooses Chapter 11 to handle malpractice claims
Sometimes the best way for a company to get out from crushing litigation is to file for Chapter 11 bankruptcy. That was the decision made by the Wyoming hospital dealing with some 20 lawsuits. All of the suits involve an orthopedic surgeon who worked there from 2006 to 2014. The surgeon resigned from Powell Valley…
Store closures part of Aeropostale’s Chapter 11 bankrutpcy
A recent court filing by Aeropostale reveals the company’s plans to completely exit certain sales markets, including Hawaii, Alaska and Canada. In total, the company will shutter 113 stores in the U.S. and 41 in Canada. One of the stores that will be closed is located here in Worcester. The court paperwork says that 117…