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Major toy store chain facing financial problems

The financial troubles of the major retail toy store chain Toys "R" Us have become the subject of speculation in the news media of late, with even some insiders in the company saying that the former king of toy stores is considering a Chapter 11 bankruptcy filing.

Ways of handling small business debt

Business owners in Bradley County, Tennessee, may not be able to quite identify with the news stories announcing the latest large commercial bankruptcy, especially if the business is nationwide and worth millions of dollars. Even if these owners are themselves in financial distress due to business debt, filing a Chapter 11 bankruptcy, which large businesses use, may seem a little out of reach or like overkill.

Understanding how Chapter 11 bankruptcy can help

This blog recently discussed bankruptcy options for businesses, which is an important topic for struggling companies to be familiar with. A Chapter 11 business bankruptcy filing typically allows the company to continue under its current management. Unlike a Chapter 7 bankruptcy filing, which is an option for companies going out of business to consider, a Chapter 11 business bankruptcy filing is an option to help the company remain in business and return to profitability. After the bankruptcy filing, an automatic stay goes into effect halting creditor collection actions.

Bankruptcy filing halts foreclosure sale of business

Bankruptcy options are designed to help both struggling individuals and companies based on their unique situation and circumstances. With regards to commercial property owners, businesses dealing with financial problems might find it resourceful to consider bankruptcy and how the process could offer them a fresh start.

An overview of how Chapter 11 bankruptcy works

Chapter 11 bankruptcy is a bankruptcy process that allows the struggling business to reorganize its debts and also liquidate assets to repay debts. Once the filing party has filed the bankruptcy motion, they remain in possession of the business and its assets during the business bankruptcy process. The goal of the process is to get the business back on its feet.

Company in Chapter 11 selling to Tennessee company

The bankruptcy process can be an important resource for struggling businesses to consider. While it is a difficult process to initiate and certainly a challenging decision to make, it can often be the best choice and option for a business struggling to keep afloat.

Retailer closes Tennessee store; files for bankruptcy

This blog has recently discussed the benefits of commercial bankruptcy for struggling businesses. It is helpful to keep in mind that bankruptcy is also available to individuals struggling with debt. Gander Mountain, a sporting goods retailer with a presence in Tennessee, recently filed for Chapter 11 bankruptcy protection. The store located in a neighboring Tennessee community just east of the Cleveland area is scheduled to close in the next month. The 50,000 square foot store opened in 2014 and will now close as part of the bankruptcy process.

A closer look at Chapter 11 bankruptcy

This blog recently discussed the helpful nature of Chapter 11 bankruptcy for struggling businesses. Chapter 11 bankruptcy can be a complex process, so it is important that businesses considering the commercial bankruptcy process understand how it works before filing.

Business bankruptcy can provide relief for a struggling business

Challenging economic times can have an impact on Tennessee businesses and individuals, which is why legal options, including bankruptcy are available to help. Businesses may struggle with reduced sales, declining profits and tax burdens that make running what was once a successful business a struggle. The burden of financial challenges can be overwhelming. Chapter 11 bankruptcy is a debt relief option specifically designed for the needs of businesses.

What options are available when a business is struggling?

This blog recently discussed a Tennessee company that was struggling, and other business owners may wonder what to do if they are in a similar situation. When a business is struggling with debt, it can be an overwhelming situation. The options available, and how they operate, can depend on the business structure and whether it is a sole proprietorship, partnership, LLC or corporation. When a business is behind on its debts, creditors may attempt to collect money that is owed and filing for bankruptcy can have an impact on what creditors are able obtain.

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