Business & Commercial Bankruptcy

Avoiding foreclosure can be a daunting task for homeowners facing financial difficulties. Two options that may help you steer clear of foreclosure are a deed in lieu and a short sale. Let's explore what these options entail and how they can be beneficial. Deed in lieu...

Most Tennessee shoppers are familiar with the popular retail chain known as Belk. The department store was launched in the late 1880s and currently has approximately 300 stores in 16 states. Like many retail stores, Belk has encountered financial problems, and it...

Many Tennessee businesses that are considering bankruptcy have a number of continuing contracts, such as a supply contract, a real estate lease or any contract in which both parties have unperformed obligations. The bankruptcy code accords such contracts, known as...

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...

This blog discussed the Logan's Restaurant business bankruptcy filing earlier this year and the option for struggling businesses to utilize the commercial bankruptcy process as a way to return to profitability. Logan's Roadhouse restaurant chain, headquartered in...

Bankruptcy is often viewed as an end, a process of last resort for people and companies that are drowning in insurmountable debt. However, for individuals and businesses right here in Tennessee and throughout the rest of the country, bankruptcy can actually offer...

Tennessee residents have many options when it comes to purchasing sandwiches. Quiznos was once a contender in the restaurant business about a decade ago, but increased competition has led to declining sales. The company now owes $570 million to creditors and has...

Many Tennessee residents have heard the news about the chemical spill that left 300,000 West Virginians without drinking water. Businesses in the area were forced to close for several days. Even schools had to be shut down and residents could only use their water to...

Oreck vacuums started as a family business back in 1963. Forty years later, the family sold the company to a private equity firm. By 2013, the vacuum maker was grappling with declining sales due to tough competition and distribution difficulties. Ultimately, those in...

The decision to file for a business bankruptcy is always a difficult one, especially when it becomes clear that it can have a ripple effect on the local economy. The company itself may be subject to the ripple effect of other forces. Such may be the case for the...