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New partner allows local brewery to reopen

One of the principal reasons that small businesses in Tennessee seek bankruptcy protection is the lack of adequate operating capital. The product is valued by consumers, the employees enjoy the work, marketing and distribution are sound, but the company lacks the money to expand its share of the marketplace. In such cases, an aggressive competitor can erode the company's market share and force it into commercial bankruptcy. While bankruptcy seems like a dire fate for any business, some companies facing bankruptcy are able to find new sources of financing and are able to reopen instead of liquidating its assets.

An example of such a seemingly miraculous rebirth has recently occurred in Nolensville, Tennessee. Mill Creek Brewing Co., a small brewery located in Nolensville, closed operations in early November of this year and announced that it was filing a bankruptcy petition. Two weeks later, the company's CEO announced the reopening of its operations.

According to the announcement of the reopening, a new partner approached the company's existing ownership with an offer of increased financing. The company has already reopened its brewery and allowed full-time employees to return to work. The company has since begun shipping its product to its wholesale distributors. The company is expected to reopen its taproom in Nolensville in the next few weeks and invest the new capital in more robust marketing and distribution.

Such rebirths may seem miraculous, but they are more the result of hard work than any sort of divine intervention. Companies who are able to turn a rebirth into long term success usually rely on the advice of qualified financial and legal advisers to avoid the pitfalls that originally triggered the bankruptcy filing.

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